Progress made on splitting proceeds of natural gas
Cyprus and Israel have made progress in talks regarding the distribution of future proceeds from the sale of natural gas produced at the Aphrodite reservoir, a part of which extends ...
Coal rush! Energy crisis fires global hunt for polluting fuel
The sleepy Tanzanian port of Mtwara mainly dealt in cashew nuts until late last year. Now it bustles with vessels loading up with coal, as Russia’s invasion of Ukraine ...
Russia’s surging oil exports to China in Aug fail to keep Saudis down
China’s crude oil imports from Russia in August surged 28 per cent from a year earlier, data showed on Tuesday, but it handed back its top supplier ranking to Saudi ...
German utilities close to long-term LNG deals with Qatar, sources say
German utilities RWE (RWEG.DE) and Uniper (UN01.DE) are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar’s North Field Expansion project to help ...
Lebanon says to take Novatek’s 20 per cent share in oil and gas consortium
Lebanon said on Monday it will take over Novatek’s 20 per cent share in a consortium licensed to explore two offshore oil and gas blocs after the Russian gas giant ...
Europe races to prepare for energy crunch this winter
European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running ...
Oil dips on recession fears; supply concerns limit declines
Oil prices dipped on Monday as fears of a global recession caused concerns that fuel demand growth will slow, though supply worries ahead of the European Union embargo on Russian ...
€192 million investment in Aphrodite announced
Oil companies operating the Aphrodite gas field have approved a €192 million investment to start drilling, Israeli company NewMed said on Sunday.
The amount will also cover other development costs for ...
Israeli energy minister due in Cyprus to address Aphrodite field dispute
Israeli energy minister Karine Elharrar will be in Cyprus on Monday 19 to address the pending dispute with Nicosia over the Yishai gas field, according to his Cypriot counterpart Natasa Pilides.
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Fitch affirms Cyprus’ at BBB- with stable outlook but some risks
Fitch Ratings has affirmed Cyprus’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook saying the rating was underpinned by governance indicators and GDP per capita levels ...
Putin: 25% of Russian gas supplies to Turkey will be paid for in roubles
Russian President Vladimir Putin said on Friday that 25% of Russian gas supplies to Turkey would be paid for in roubles, and that an agreement on this would come into force ...
IC Ictas recovers Russia deal to build Turkish nuclear plant -sources
Turkish contractor IC Ictas re-captured a deal to build a $20-billion nuclear power plant run by Russia’s Rosatom at Akkuyu in southern Turkey, two sources with information on the ...
France to make formal EDF buyout offer by end of month -sources
The French government is now expected to launch its takeover of EDF by the end of September after a slight delay due to the complexity of clearing the offer price, ...
Oil prices and financial markets brace for recession
US economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices.
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Oil ticks up, but on track for weekly loss on recession fears
Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand.
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Germany takes control of Russian-owned refinery amid energy crisis
The German subsidiary of Russian oil giant Rosneft (ROSN.MM) was placed under trusteeship on Friday, giving Germany’s federal regulator control of the PCK refinery in Schwedt, a key ...
Oil falls on demand concerns, strong dollar
Oil fell on Thursday as expectations of weaker demand and a strong US dollar ahead of a potentially large interest rate increase outweighed supply concerns.
The International Energy Agency said ...
Europe needs China’s diesel if it does cut off Russia imports
By Clyde Russell
If Europe is serious about ending all imports of Russian crude oil and refined fuels by early next year, the key to success lies in Asia, and ...
Oil prices inch lower on prospect of rising US interest rates
Oil prices inched lower on Wednesday on concerns of another US Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust ...
Oil prices rise on concerns over tight supplies
Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude ...
Oil prices drop amid China COVID curbs, possible rate hikes
Oil prices fell on Monday with the global fuel demand outlook overshadowed by COVID-19 restrictions in China and the potential for further interest rate hikes in the United States and ...
Energy: difficult choices for the EU
It is time for Cyprus to move from words to action
As we approach winter the global energy crisis is getting worse and worse. It has shifted from a situation ...
Saudi Arabia: reducing dependency on mineral wealth
By Andreas Charalambous and Omiros Pissarides
Saudi Arabia has traditionally based its policies on exploiting its natural wealth. Its government/administrative structure rests on the power of the Saud family ...
Pilides extols role of Cyprus in EU energy security, EU commissioner due to visit
Energy Minister Natasa Pilides announced the upcoming visit of the Energy Commissioner Kadri Simson, in a statement after the conclusion of the extraordinary meeting of energy ministers in Brussels on ...