Energy

By Andreas Charalambous and Omiros Pissarides For more than a century, oil has retained its international position as the main source of energy, utilised, among other things, for fuelling vehicles, ...

Israel, due to estimated shortfalls in domestic electricity production in the coming years, is keen on seeing the creation of the electricity interconnector with Cyprus, Energy Minister George Papanastasiou said ...

Here are the top business stories in Cyprus from the week starting June 12: Cyprus-based investor Alexey Gubarev has recently become the owner of the land where Sodap’s wine factory ...

In talks in Jerusalem on Thursday, Cyprus and Israel discussed cooperation in the development of regional gas infrastructure, such as the ‘Cyprus Gateway’ initiative aiming to transfer natural gas via ...

Oil rebounded on Thursday after the previous day’s plunge, as data showed a jump in refinery runs at the world’s top crude importer China, though a weak economic ...

Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence ...

Energy Minister George Papanastasiou is headed to Jerusalem, where on Thursday he will hold meetings with his counterpart, Israeli Energy and Infrastructure Minister, Israel Katz. The focus of the meeting ...

Fuel and electricity prices are set to rise as of July 1 following expiration of the relief measures for consumers introduced last year. According to Finance Ministry permanent secretary, George Panteli, ...

Here are the top business stories in Cyprus from the week starting June 5: Cypriot firm Ask Wire on Thursday released a report examining the Paphos property market for 2022, including an ...

Cyprus cannot consider itself an energy hub despite its deposits of offshore hydrocarbons, and as long as the gas remains in the ground, it will never generate the wealth associated ...

Britain’s windfall tax on oil and gas producers will not be applied if prices drop to certain levels for six months in a row, the finance ministry said on ...

U.S. President Joe Biden and British Prime Minister Rishi Sunak on Thursday agreed to deepen close economic ties between the United States and Britain, pledging to accelerate the clean ...

The House on Thursday passed a bill that allows staff at the Electricity Authority (EAC) to keep all their current healthcare and other benefits should they decide to transfer to ...

Oil fell for a second day on Wednesday as concerns over global economic headwinds deepened, erasing the price gains booked after top crude exporter Saudi Arabia’s surprise weekend pledge ...

Oil prices rose by more than $1 a barrel on Monday after top crude exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July ...

Germany is launching a programme that will make available tens of billions of euros for firms facing substantial energy costs, in a bid to help its challenged industrial sector fund ...

Here are the top business stories in Cyprus from the week starting May 29: A new plan is expected in the coming days to protect the primary home of people belonging ...

By Charles Ellinas Energy Minister, George Papanastasiou, initiated a debate around natural gas immediately following his appointment. In line with government goals, he has prioritized bringing natural gas to the ...

The Chamber of Commerce and Industry (Keve) on Friday welcomed the law simplifying the procedure for the installation of photovoltaic panels, saying the amendment will promote renewable energy sources. In ...

OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance ...

There can be no supply from the Aphrodite field in the Cyprus EEZ before 2027, according to NewMed Energy, one of the three companies licensed to operate in this block. An ...

Energy Minister George Papanastasiou dismissed media reports on Wednesday which downplayed the government’s reorientation on energy as “wrong”, stating that energy companies and the government are on the same ...

NewMed Energy, a partner in the Aphrodite gas prospect, will officially announce delivery of their modified development and production plan on Wednesday, the energy minister said on Tuesday. George Papanastasiou ...

Oil fell by nearly 2 per cent on Tuesday as concerns about the US debt ceiling pact cooled the market’s risk-on sentiment and mixed messages from major producers clouded the ...