Energy

Cyprus on Wednesday officially launched its long-awaited competitive electricity market, which Energy Minister George Papanastasiou said should ultimately drive down costs for consumers. Speaking on the sidelines of the independence ...

A new study has found that renewable electricity has already delivered substantial economic benefits to Cyprus, saving the country hundreds of millions of euros and offering strong returns on investment. ...

The government is awaiting legal advice after the European Commission demanded the return of €67 million it had paid for the Vasiliko liquefied natural gas (LNG) terminal that was never completed, ...

The government is now pondering its options for appeal after the European Commission gave it until November 6 to repay a total of €67.2 million handed out in grants for the construction ...

The Republic of Cyprus will pay the €25 million demanded of it by Greece’s independent transmission system operator (Admie) when the Great Sea Interconnector project is being “implemented it in ...

The liquefied natural gas terminal at Vasiliko will be completed, Energy Minister George Papanastasiou promised on Tuesday. Addressing the House energy committee, he said the project “is feasible, should be ...

The single aim of the competitive electricity market (CEM) must be to bring about substantial reductions in Cyprus’ very high electricity prices. Anything else is of secondary importance and certainly ...

Cyprus has “no intention”a to “create a confrontation with the Greek government” over the matter of the Great Sea Interconnector, Finance Minister Makis Keravnos said on Friday. He had ...

Oil prices eased on Wednesday, after rising more than 1 per cent in the previous session, though ongoing geopolitical jitters provided a floor for the market, with traders eyeing an expected ...

The natural rate of decline in output from the world’s oil and gas fields is speeding up, owing to more reliance on shale and deep offshore resources, the International ...

Energy Minister George Papanastasiou on Tuesday travelled to the State of Israel to meet his Israeli counterpart, Eli Cohen. According to his ministry, he will participate in a “roundtable discussion ...

HSBC expects a big oil surplus of 1.7 million barrels per day (mbd) from the fourth quarter of 2025, and a surplus of 2.4 mbd in 2026, exacerbated by the return of OPEC+ barrels ...

The European Investment Bank (EIB) this week announced its commitment to provide €17.5 billion to support energy efficiency improvements across more than 350,000 small and medium-sized enterprises in Europe over the next ...

The contractual framework of the electricity market rules was signed on Friday, paving the way for the commencement of the commercial operation of the competitive electricity market. The contract allows ...

With Cyprus experiencing unprecedented growth in solar energy adoption, Operation and Maintenance services are becoming crucial for the island’s energy transition. Lighthief International, which offers operation and maintenance for ...

The Commission for the Protection of Competition (CPC) announced on Thursday it has launched a probe into practices distorting competition relating to the acquisition of ExxonMobil’s share capital by ...

US oil major Chevron (CVX.N) has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece’s Hellenic Energy (HEPr.AT), ...

OPEC+ surprised markets on Sunday with a pledge to accelerate the unwinding of output cuts, a move that appears risky in an already oversupplied environment but may have limited impact ...

Energy Minister George Papanastasiou on Tuesday met Egypt’s Petroleum Minister Karim Badawi for a “results-oriented discussion” regarding the two countries’ efforts to exploit natural gas from under the seabed ...

By Michele Kambas Cyprus has approached the United Arab Emirates for possible cooperation on an EU-financed subsea power cable linking Europe to the eastern Mediterranean region, it said on Monday, ...

The EU and Europe’s bio-based industries are tapping into the hidden potential of wood to replace fossil resources in the production of high-performance resins with a low carbon footprint. ...

Cyprus’ energy market will be opened up to private companies on October 1, the energy regulatory authority (Cera) confirmed on Friday. It said the move will “mark a new era in ...

The former contractor for the liquefied natural gas (LNG) project at Vasiliko on Thursday laid the blame squarely on the Cypriot side, accusing it of incompetence and of often acting ...

The European chief public prosecutor’s office (EPPO) on Thursday confirmed that it had launched an investigation into the Great Sea Interconnector project, which has been planned to link the ...