Energy

The world is scrambling for oil after Russia’s invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world’s third-largest reserves, ...

KODAP released its 2022 budget in early February. Out of €119million, over €34 million is allocated to the construction of a strategic oil reserve storage at Vasiliko, with another €23million budgeted to ...

Oil prices rebounded on Friday as fears of Western sanctions that could disrupt Russian oil exports outweighed the possibility of more Iranian supplies while reports of a nuclear plant fire ...

By George Pirishis In an effort to contain costs from the rising fuel prices, the government has decided to temporarily reduce the excise tax on petrol and diesel by 7 cents ...

Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result ...

The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to ...

Shell (SHEL.L) will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the ...

Russian President Vladimir Putin and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan, in a phone call on Tuesday, discussed the OPEC+ oil deal and pledged to continue coordination ...

BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move ...

The European Union has imposed two packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”. Further sanctions, including the suspension of Russia’s access ...

This project has been continuously in the limelight during the last few weeks, but, worryingly, for the wrong reasons. Following many questions about the lack of progress, significant schedule slippage ...

Oil prices jumped on Friday by nearly 3 per cent on concerns of global supply disruptions from the impact of trade sanctions on major crude and fuel exporter Russia after it ...

In the north German state of Mecklenburg-Vorpommern, where former Chancellor Angela Merkel was born, ties to Russia run deep – so deep, in fact, its leaders have defended a Kremlin project ...

Oil prices surged on Thursday, with Brent breaching $100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy ...

Global stocks tumbled while safe-havens rallied and oil surged on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into ...

Oil prices fell on Monday, reversing course from strong initial gains, as news of fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from concerns about crude supply. ...

US representatives Gus Bilirakis and Nicole Malliotakis have criticised the US government’s unilateral move to reverse its policy on the EastMed pipeline, noting that the US State Department seems ...

Cyprus’ representation at the Egypt Petroleum Show (EGYPS) in Cairo, which concluded on Wednesday, was a success, national promotion agency Invest Cyprus said on Friday. The agency said that Cyprus’ ...

By Maria Demertzis The Maastricht treaty, signed thirty years ago this year, committed European Union countries to the greatest step in integration they’d so far taken. It established European ...

Pandemic restrictions in 2020 reduced the European Union’s oil and petroleum consumption in energy use to its lowest in 30 years, the bloc’s statistics office said on Friday. Eurostat said ...

The Ministry of Energy, Commerce and Industry on Thursday announced a range of programmes to support households and businesses, worth €158 million in total, scheduled for launch throughout 2022. During a presentation ...

Cyprus Energy Ministry’s Permanent Secretary Marios Panayides chaired the 17th Summit of the Executive Council of East Mediterranean Gas Forum (EMGF) which unanimously approved its work programme for 2022, including ...

Energy Minister Natasa Pilides travelled to Egypt earlier this week to attend the Egypt Petroleum Show (EGYPS) in Cairo, an oil, gas and energy conference in which Cyprus is participating ...

Renewable energy accounted for 37.1 per cent of the total energy used for heating and cooling in Cyprus in 2020 – the ninth highest rate in the EU and up from 19.97 per cent ...