Energy

The Council of Ministers on Thursday approved an increase in the subsidy amount for the installation of photovoltaic systems in residences of vulnerable electricity consumers. The adjustment raises the subsidy ...

A trade union representing employees at the Electricity Authority of Cyprus (EAC) warned on Monday of potential strikes unless they are invited to a meeting scheduled for later this week. ...

The Cyprus Energy Regulatory Authority (Cera) on Monday hit the Transmission System Operator (TSOC) with a €100,000 fine. The fine was levied regarding “problems which arose, or still exist, in the ...

Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility. Benchmark Brent averaged around $80 a barrel this ...

A COP28 pledge by energy majors to reduce their emissions is not enough to convince many sustainable fund managers to include the companies in their portfolios because it omits pollution ...

The government has granted energy giants Chevron, operators of the Aphrodite gas field offshore Cyprus, an extension until the end of March 2024 to submit an ‘optimal development plan’, it emerged ...

Oil prices rose on Monday, extending gains for a second session as US efforts to replenish strategic reserves provided some support, although concerns of crude oversupply and softer fuel demand ...

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand and economic slowdowns in the US ...

President Nikos Christodoulides is scheduled to meet the representatives of the Independent Power Transmission Operator (ADMIE) over the Euro-Asia Interconnector on Thursday. He will be accompanied by Energy Minister George ...

The attention on Day 6 of the UN COP28 climate summit in Dubai was Energy. It was the day when the key question about the future of fossil fuels came to ...

Over 70 bilateral meetings between Cypriot and foreign businesses from 15 countries took place within the framework of an international event in Limassol the Cyprus Chamber of Commerce (Keve/CCC) announced. Participating ...

The government on Monday confirmed having received a request by US energy giant Chevron seeking an extension to the completion of a key engineering study for the Aphrodite natural gas ...

Oil futures reversed course after rising briefly on Monday amid persistent pressure from the OPEC+ decision and uncertainty over global fuel demand growth, although the risk of supply disruptions from ...

The government and Chevron have agreed on the terms for developing the ‘Aphrodite’ gas field in block 12 of Cyprus’ exclusive economic zone (EEZ), the energy ministry announced on Friday. Negotiations ...

Southeastern Mediterranean countries, including Cyprus, “can pioneer the hydrogen economy”, Cyprus Energy Regulatory Authority (Cera) chairman Andreas Poullikkas said. Poullikkas was speaking at a conference on the subject of energy ...

Oil prices pared losses on Friday, after falling sharply in early trade and by over 2 per cent on Thursday on perceptions that the voluntary oil output cuts agreed by OPEC+ ...

OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional ...

Chevron’s call for synergies between companies regarding natural gas in Cyprus’ exclusive economic zone (EEZ) is positive, Energy Minister George Papanastasiou said on Wednesday. “Our ministry’s position has ...

Just over a sixth of Cypriot electricity consumption came from renewable energy sources in 2022, it was learned on Wednesday. The exact figure, 17.2 per cent, was included in a report handed ...

Oil edged higher on Wednesday as investors turned cautious ahead of a crucial OPEC+ meeting to decide output policy in the coming months, while a supply disruption caused by a ...

Energy Minister George Papanastasiou conceded on Tuesday that Cyprus cannot become an energy hub in the eastern Mediterranean, as it lacks the necessary infrastructures. He made the remarks during the ...

One of Russia’s most lucrative oil trade routes since the imposition of Western sanctions over the Ukraine conflict faces a major challenge because of the drawbacks of payment in ...

OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday. ...

The government has given energy giant Chevron until Friday to put its position in writing concerning the commercial development of the offshore Aphrodite gas field, the energy minister revealed on ...