Exxon Mobil shares surge to record intraday high
Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top US oil producer’s ...
Oil steady as rate hike talk counters China demand hopes
Oil prices were little changed on Friday as optimism about a possible rise in demand in China faded and the market again weighed the impact of sharp interest rate rises ...
Europe’s alternatives if Russia shuts off gas supply
Unexplained damage to the Nord Stream pipelines that run under the Baltic Sea have dashed hopes that Russian gas flow to Germany will resume anytime soon.
Nord Stream 1 had been ...
Energy crunch pits Germany against frustrated EU leaders seeking gas cap
Prime ministers of Italy and Belgium were among those to air frustration on Thursday with Germany’s refusal to cap gas prices as the 27 European Union leaders met for a ...
Oil prices rise on possible easing in China COVID quarantine measure
Oil prices gained around $1 on Thursday as investor sentiment rose on news that China is considering a cut in the duration of quarantine for inbound visitors.
Brent crude futures for ...
ExxonMobil executive: ‘government support necessary for East Med gas exploitation’
ExxonMobil director of frontier exploration Tristan Aspray on Wednesday called for the necessary level of support from Eastern Mediterranean countries in order to achieve an increase in natural gas production ...
Oil prices rise as investors seek riskier assets and on China demand outlook
Oil prices climbed on Wednesday, paring losses from the previous session, as investors jumped into riskier assets such as commodities amid gains in broader equity markets and on signs of ...
Global natural gas crisis dampens momentum for ‘cleaner’ LNG
Europe’s energy crisis has cooled efforts to lower the carbon intensity of liquefied natural gas (LNG) shipments, as buyers worried about a winter supply crunch prioritize securing shipments of ...
Despite challenges, Cyprus aims for energy self-sufficiency – Pilides
Energy Minister Natasa Pilides said on Wednesday that Cyprus is making great strides towards reaching energy self-sufficiency and a competitive internal gas market.
“At the same time, we are also ...
Energy crisis revives coal demand and production
High natural gas prices and global competition for the fuel have driven more demand for thermal coal for power generation this year as countries try to wean themselves off Russian ...
EU proposes next steps to tackle energy crunch
The European Commission proposed a new raft of measures on Tuesday, aimed at pulling down high gas and power prices that are stoking inflation, hampering industrial activity and hiking citizens’ ...
Cyprus energy authority chairman says hydrogen key to EU plans
Cyprus Energy Regulatory Authority (CERA) chairman Andreas Poullikkas on Tuesday said that the EU has for many years been devising a sustainable energy strategy to tackle climate change and strengthen ...
Oil prices rise on softer US dollar, supply woes
Oil prices climbed on Tuesday, bolstered by a weaker US dollar and supply woes, although gains were capped by the spectre of lower fuel demand from China as it persists ...
Exxon’s Russian oil output collapsed after rejecting local tanker insurance
Oil output at the giant Exxon-led (XOM.N) Sakhalin-1 Russian Pacific project collapsed following the US major’s refusal to accept local insurance for tankers after Western insurers pulled out ...
Oil climbs on China’s fuel demand recovery hopes
Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude ...
OPEC+ members line up to endorse output cut after US coercion claim
OPEC+ member states lined up on Sunday to endorse a steep production cut agreed this month after the White House, stepping up a war of words with Riyadh, claimed Saudi ...
EU leaders set to explore gas price cap options
European Union leaders meeting at the end of this week will explore a range of options for gas price caps, over which they have been divided for weeks, according to ...
Saudi Arabia: Reducing dependency from mineral wealth
By Andreas Charalambous & Omiros Pissarides
The Kingdom of Saudi Arabia (SA) is an example of a state, whose economic and foreign policies have traditionally centered around its natural wealth. ...
Turkish mine blast death toll rises to 40, one miner missing (Updated)
An explosion in a coal mine in Turkey’s northern Bartin province on Friday killed 40 people, Interior Minister Suleyman Soylu said on Saturday, adding that search and rescue operations were ...
Oil prices fall about 3 per cent on recession worries
Oil prices plummeted on Friday as global recession fears and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target.
Brent crude futures ...
Sweden shuns formal joint investigation of Nord Stream leak, citing national security
Sweden has rejected plans to set up a formal joint investigation team with Denmark and Germany to look into the recent ruptures of the Nord Stream 1 and 2 pipelines, a Swedish ...
EuroAsia Interconnector ready for construction, ‘historic day’, president says (Updated)
A project which will connect the Cypriot, Greek and Israeli power grids through the world’s longest submarine power cable which will total over 1,200 kilometres with a 2,000 Megawatt capability that ...
President Anastasiades: ‘East Med can play key role in EU energy diversification’
President Nicos Anastasiades on Friday addressed the opening of the Eastern Mediterranean Gas Forum (EMGF) Energy Transition Conference, noting that the conference being held in Cyprus underlines the collaborative relationship ...
EU energy commissioner in Cyprus
EU Energy Commissioner Kadri Simson arrived in Cyprus on Thursday to take part in the inauguration of the works on the EuroAsia Interconnector that are set to start on Friday.
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