Energy

As Cyprus recovers from the disappointment over the failure to find commercially viable natural gas at the Electra-1 target, Energy Minister George Papanastasiou has said the outcome is not as ...

Drilling at the Elektra-1 well offshore Cyprus has found natural gas but not in marketable quantities, the energy ministry stated on Monday. “Well data and preliminary evaluation work indicate the ...

Oil prices rose 1 per cent on Monday after US exclusions on some tariffs and Chinese data showing a sharp rebound in crude imports in March, but gains were capped by ...

Cyprus is waiting for an official update on Monday after disappointing news from a major offshore drilling project. The drilling at the “Electra” target in block 5 of the island’s ...

Energy group BP (BP.L) expects first-quarter gas marketing and trading earnings to be weak while net debt will rise, the company said this week, sending its shares lower. The ...

In an article in MEES, Peter Stevenson reveals that ExxonMobil’s Electra well in block 5 was unsuccessful. It encountered gas, but not in commercial quantities. There were high expectations that ...

On Thursday, the House of representatives unanimously passed a bill that reforms the regulation of the electricity sector, paving the way for cheaper and cleaner energy. In a written statement, ...

United Arab Emirates’ renewable energy company Masdar said on Thursday it had fully acquired Greece’s Terna Energy (TENr.AT), after buying a majority stake last year, a further step ...

Parliament on Thursday passed a law ‘prohibiting’ the disconnection of solar panels, although some MPs cautioned that the benefit of this would be limited. The legislative proposal belonged to Disy ...

Saudi Arabia, with its wealth linked inextricably to oil revenue, faces mounting pressure to raise debt or cut spending after a plunge in crude prices, complicating plans to fund an ...

Saudi Aramco has signed a deal with China’s Sinopec to expand a petrochemicals complex operated by their Yasref joint venture on the kingdom’s western coast, the Saudi state ...

Oil prices were up around 1 per cent on Tuesday, rebounding from a near four-year low in the previous session on concerns that US tariffs might depress demand and lead to ...

Cyprus is an “attractive gateway for energy investment”, Energy Minister George Papanastasiou said on Sunday. Speaking at the Capital Link Cyprus business forum in New York, he said the island ...

For years, Cyprus has struggled with electricity blackouts, high energy costs and a slow transition to renewables. Now, as officials debate a new law to protect solar panel owners from ...

President Nikos Christodoulides and American multinational corporation ExxonMobil’s vice president for global exploration John Ardill on Sunday met to discuss the next steps regarding the drilling for natural gas ...

President Nikos Christodoulides on Saturday said he is “ready” to discuss the prospect of delineating the Republic of Cyprus’ maritime borders with the Republic of Turkey to the northwest of ...

The House plenum on Thursday evening approved the 2025 budget for the Natural Gas Public Company (Defa) amid a lively debate over the delays in the advent of natural gas for ...

Oil prices fell by as much as 3 per cent on Thursday after US President Donald Trump announced sweeping new tariffs that investors worry will enflame a global trade war that ...

A small protest was held outside the presidential palace on Wednesday evening against solar panel shutdowns imposed by the transmission system operator (TSO) on solar panels based at residential properties. ...

The year is still young, but Asia has already built up a considerable lead over several European countries and the United States in terms of energy transition progress so far ...

The government on Monday revealed it is asking for an extra €70 million to complete works at the liquefied natural gas (LNG) terminal at Vasiliko, a project plagued by delays and ...

A new task force will be set up to tackle Cyprus’ growing electricity challenges, following a high-level meeting on Monday between Energy Minister George Papanastasiou and representatives of the Cyprus ...

Oil prices slipped on Monday, heading for a modest quarterly loss, despite a warning from US President Donald Trump that he may impose secondary tariffs on buyers of Russian oil ...

The completion of drilling at the ‘Electra’ field in Block 5 of Cyprus’ Exclusive Economic Zone (EEZ) has been pushed to next week due to minor delays caused by geological pressures ...