Energy

BP’s (BP.L) second-quarter profit slumped 70 per cent from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy ...

Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from OPEC leader Saudi Arabia, providing support for prices which are expected ...

Oil prices were steady on Friday, but on track for a fifth straight week of gains with investors optimistic healthy demand and supply cuts will keep prices buoyant. Risk appetite ...

Concerns over discrimination in favour of the electricity authority (EAC) and a single buyer market were raised on Friday by the employers and industrialists’ federation (Oev). The federation said in ...

A Liberian-flagged oil tanker set sail in May from Russia’s Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had ...

The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on ...

Minister of Agriculture Petros Xenophontos on Wednesday said autonomous solar energy is the solution to the problem of exposed cables running through the Paphos forest. The minister’s announcement came ...

Oil prices eased on Monday as traders awaited more rate hike cues from US and European central banks, with tightening supply and hopes for Chinese stimulus underpinning Brent at $80 a ...

Here are the top business stories in Cyprus from the week starting July 17: Tourist arrivals in Cyprus experienced a significant increase of 22.7 per cent in June 2023 compared to the same ...

The Independent trade unions federation (Poaso) has called on the government to implement a windfall tax on profits from renewable energy sources. They say that the proceeds from the tax ...

Increased supplies of liquefied natural gas (LNG) from Russia’s Novatek (NVTK.MM) mean the company is close to overtaking Kremlin-controlled Gazprom (GAZP.MM) as the country’s leading fuel ...

Russian President Vladimir Putin approved Arctic LNG 2’s first line departure via the Northern Sea Route from the Murmansk region to its future production site on the Gydan peninsula, the ...

A tanker containing liquefied natural gas (LNG) that originated from a Russia supplier and was loaded onto a Gunvor Group-chartered <GGL.UL> vessel off the coast of France ...

The north’s electricity authority Kib-Tek and Turkish energy company Aksa signed a new 15-year procurement contract on Wednesday. Aksa owns and operates the north’s Kalecik power plant, near ...

A scheme for the installation of PV hybrid systems for residential units will be rolled out likely in September, the energy minister said Thursday, explaining that anyone can apply for ...

Global oil prices were little changed on Wednesday as markets weighed US demand concerns against China’s pledge to support economic growth. Brent futures were flat at $79.63 a barrel by 0800 ...

By Andria Kades and Iole Damaskinos EuroAsia Interconnector signed a record-breaking subsea cable deal with Nexans on Wednesday, however the positive development was overshadowed by Energy Minister George Papanastasiou confirming ...

The recent appraisal well drilled at the Aphrodite reservoir appears to confirm previous estimates on the amount of recoverable gas there, the government said on Tuesday. “The data looks positive. ...

A growing number of citizens groups have pressed for a reinstatement of electricity subsidies in the midst of the ongoing heatwave but the official line, that state finances permit only ...

Cyprus aims to solve its energy storage problem within the next 18 to 24 months, so that the energy generated from renewables doesn’t go to waste, the energy minister said on ...

Positive news is expected from the findings of the third drill in the Aphrodite natural gas field in Cyprus’ exclusive economic zone (EEZ), to test the quality and quantity of ...

The Energy ministry outlined the general policy framework for energy storage systems on Friday. The ministry also said the implementation of the aid plan for renewable energy source-based projects with ...

We should have submitted our publicly consulted energy and climate plan to the EU by now. There’s no sign of that In a comparatively little-reported speech on June 27, at ...

Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world’s biggest oil exporters Saudi Arabia ...