Energy

Energy Minister Natasa Pilides on Thursday said the discovery of natural gas in the ‘Zeus-1’ target, which facilitates the utilisation of the deposits identified in block 6 of Cyprus’ exclusive economic ...

Between two and three trillion cubic feet (Tcf) of natural gas has been uncovered in exploratory drilling in block six of Cyprus’s exclusive economic zone (EEZ), the energy ministry ...

By Elias Hazou and Iole Damaskinos A rise in the cost of electricity is inevitable for Cyprus beginning in early February, due to the country’s reliance on electricity production ...

Egypt has discovered a large gas field in the Nargis block in the eastern Mediterranean, Petroleum Minister Tarek El Molla said on Thursday. Evaluation is still ongoing to determine the ...

The average price for Russia’s Urals oil blend was $57.49 per barrel between Nov. 15 and Dec. 14, Russia’s Finance Ministry said late on Thursday, below the Western cap of $60. That ...

Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis. More than a third (36.3 ...

Oil fell on Friday as the market assessed the aftermath of interest rates hikes at central banks, but was poised for the biggest weekly gains in 10 weeks amid supply disruption ...

Oil prices dipped in Asian trade on Thursday as the dollar firmed, while the possibility of further interest rate hikes from global central banks also heightened demand concerns. Brent crude ...

Labour Minister Kyriacos Koushos appeared doubtful on Wednesday that an agreement can be reached soon with electricity authority workers after a strike threat was called off at the last moment ...

Oil prices steadied on Monday after several weeks of declines as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States ...

Consumers will experience power cuts as of Wednesday if there is increased electricity demand or adverse weather conditions, as a result of a strike by the electricity authority (EAC) staff ...

TotalEnergies (TTEF.PA) on Monday said it was working towards exploiting its new Lebanon Block 9 offshore gas project from next year, adding that it would likely select the vendor for ...

The leaders of the nine Mediterranean countries in the EU agreed on Friday to push for a dynamic cap on gas prices rather than a fixed ceiling, Spanish Prime Minister ...

An underwater pipeline to carry green hydrogen between Spain and France will cost about 2.5 billion euros ($2.6 billion), Spanish Prime Minister Pedro Sanchez said on Friday, adding he hoped the European ...

Oil prices ticked higher on Friday but both benchmarks were set for a weekly loss as worries over weak economic outlook in China, Europe and the United States weighed on ...

Turkey’s maritime authority said on Thursday it would continue to block the passage of oil tankers that don’t carry appropriate insurance letters, adding that insurance checks on ships ...

The East Mediterranean Gas Forum (EMGF) this week announced that it has decided to approve the proposal of the Cypriot Presidency of the forum for the creation of a Scientific ...

The trading arm of Azerbaijan’s state oil firm SOCAR has paused purchases of Russian crude oil for its Turkish refinery as the industry grapples with EU sanctions on shipping ...

Oil prices rebounded on Thursday amid optimism over China’s easing of anti-COVID measures, recouping losses after slumping to the lowest levels so far this year in the previous session. ...

European motorists could find Russian diesel in their tanks even after bans take effect because regulators lack tools to trace the origin of fuel when it has passed through other ...

Disruptions in tanker traffic from Russia’s Black Sea ports to the Mediterranean are a result of a new Turkish insurance rule, not the price cap on Russian oil agreed ...

The Minister of Energy, Commerce and Industry Natasa Pilides on Tuesday departed for Cairo, where she will preside over the eighth ministerial meeting of the East Mediterranean Gas Forum (EMGF), ...

European Union countries on Tuesday considered the latest proposal for a lower gas price cap of 220 euros ($231), a week away from a meeting when the bloc hopes to resolve an ...

Approximately 20 per cent of the oil tanker fleet registered in Cyprus have migrated to other registries since October 6, when the European Commission signaled its intention to cap the price of ...