Energy

Invest Cyprus issued a statement on Monday underscoring the significance of five strategic Memoranda of Understanding (MoUs) signed on January 8 at the Egyptian presidential palace in Cairo. These agreements were ...

After years of delays, the Electricity Authority of Cyprus (EAC) will begin installing smart meters this month, starting with urban areas across the country. EAC spokesperson Christina Papadopoulou outlined the ...

Global energy major BP (BP.L) has pledged to lift oil production by 44 per cent and gas output by 89 per cent from India’s largest field off its west coast, ...

Oil producer Saudi Aramco (2222.SE) and Algeria’s Sonatrach lowered January’s official selling prices (OSPs) for liquefied petroleum gas (LPG) by between 1.6 per cent and 6 per cent from December ...

Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large US fuel inventories and macroeconomic concerns. Brent crude futures were down 3 cents at $76.13 ...

OPEC oil output fell in December after two months of increases, a Reuters survey found, as a drop from the United Arab Emirates due to field maintenance and from Iran ...

The volume of global crude exports in 2024 declined 2 per cent, the first fall since the COVID-19 pandemic, shipping data showed, due to weak demand growth and as refinery and pipeline ...

By Angeliki Koutantou, Forrest Crellin and Edward McAllister For Athens restaurant owner Christos Kapetanakis, rent has always been high, but now he faces what he calls “a second rent” as ...

For Athens restaurant owner Christos Kapetanakis, rent has always been high, but now he faces what he calls “a second rent” as soaring electricity bills slash profits and force him ...

Cyprus has the potential to become a significant supplier of liquefied natural gas (LNG) to the European Union, provided pre-drilling surveys are confirmed, Energy Minister George Papanastasiou said on Friday. ...

Oil prices were little changed on Friday and poised for weekly gains after closing at their highest in more than two months in the previous session, underpinned by expectations of ...

The utilisation of liquefied natural gas (LNG) brought onshore at Vasiliko could reduce electricity bills by as much as 35 or 40 per cent, energy expert Dr Charles Ellinas said on Thursday. ...

Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts ...

Russia pumped gas on Monday to European customers via Ukraine for one of the last days before a key transit deal expires at the end of the year, marking the ...

The floating, storage and regasification unit (Fsru) is currently moored at the Strait of Malacca, Malaysia, where it’s undergoing technical checks, the energy minister said on Monday. George Papanastasiou ...

Oil prices slipped lower on Monday in thin holiday trade ahead of the year-end as traders awaited more economic data from China and the US later this week to assess ...

The International Air Transport Association (IATA) has released new estimates for sustainable aviation fuel (SAF) production, revealing slower-than-expected growth. In 2024, SAF production reached 1 million tonnes (1.3 billion litres), doubling the 0.5 million ...

Total petroleum product sales in Cyprus fell by 4.7 per cent in November, compared to the same month in 2023, according to the Cyprus Statistical Service (Cystat). Despite the overall decline, kerosene ...

Major European energy companies doubled down on oil and gas in 2024 to focus on near-term profits, slowing down – and at times reversing – climate commitments in a shift that they are ...

ExxonMobil’s drilling rig will start drilling in mid-January at the ‘Electra’ target, located in Block 5 of Cyprus’ Exclusive Economic Zone (EEZ), for approximately one month, Energy Minister George Papanastasiou ...

The Joint Rescue Coordination Centre (JRCC) has issued a Navtex warning for drilling works in Cyprus’ Exclusive Economic Zone (EEZ) block 5 to be conducted for the next two months. The ...

The floating, storage and regasification unit (Fsru) may head out to Greece and moor there for about a year until the LNG terminal in Cyprus is completed, reports said on ...

Operating expenses may easily spiral out of control for firms, with business energy waste frequently playing a subtle but substantial role. Energy waste management inefficiency raises electricity costs and hurts ...

US liquefied natural gas exports are on track to climb to new highs in 2024, as record domestic natural gas production spurred the 10th straight year of volume growth in the ...