Energy

By Andria Kades and Iole Damaskinos Fuel subsidies will be scrapped but electricity bill subsidies will continue albeit more targeted towards vulnerable groups, the cabinet decided on Wednesday. The measure ...

Total petroleum product sales in Cyprus reached 122,581 metric tons in May 2023, marking a 1.4 per cent increase compared to May 2022, according to a report released this week by the Cyprus Statistical ...

By Efi Xanthou On Friday, June 23, the House of Representatives hosted a seminar presenting part of the Fit for 55 EU package, essentially the EU’s target of reducing net greenhouse ...

In a speech delivered at the Hydrogen & Green Gases Forum held last week in Athens, Cyprus Energy Regulatory Authority (CERA) chairman Andreas Poullikkas emphasised that until the completion of ...

As Israel looks to expand its energy capacity by turning to renewables, Cyprus has pitched itself as a potential provider of such power through a subsea electricity interconnector between the ...

Solar energy parks are sprouting up like mushrooms, House agriculture committee chair Yiannakis Gavriel said on Friday during a session on the issue after it emerged that 47 facilities had been ...

Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower ...

Cyprus does not currently have the capacity to absorb the full amount of the renewable energy it produces, meaning that the excess amount could be transported to Israel – according to ...

Cyprus wants shorter gas pipeline to Israel By Michele Kambas Cyprus hopes to develop plans for a pipeline linking it to Israel’s east Mediterranean gas fields during talks which ...

Oil prices fell on Monday as questions over China’s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in ...

By Andreas Charalambous and Omiros Pissarides For more than a century, oil has retained its international position as the main source of energy, utilised, among other things, for fuelling vehicles, ...

Israel, due to estimated shortfalls in domestic electricity production in the coming years, is keen on seeing the creation of the electricity interconnector with Cyprus, Energy Minister George Papanastasiou said ...

Here are the top business stories in Cyprus from the week starting June 12: Cyprus-based investor Alexey Gubarev has recently become the owner of the land where Sodap’s wine factory ...

In talks in Jerusalem on Thursday, Cyprus and Israel discussed cooperation in the development of regional gas infrastructure, such as the ‘Cyprus Gateway’ initiative aiming to transfer natural gas via ...

Oil rebounded on Thursday after the previous day’s plunge, as data showed a jump in refinery runs at the world’s top crude importer China, though a weak economic ...

Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence ...

Energy Minister George Papanastasiou is headed to Jerusalem, where on Thursday he will hold meetings with his counterpart, Israeli Energy and Infrastructure Minister, Israel Katz. The focus of the meeting ...

Fuel and electricity prices are set to rise as of July 1 following expiration of the relief measures for consumers introduced last year. According to Finance Ministry permanent secretary, George Panteli, ...

Here are the top business stories in Cyprus from the week starting June 5: Cypriot firm Ask Wire on Thursday released a report examining the Paphos property market for 2022, including an ...

Cyprus cannot consider itself an energy hub despite its deposits of offshore hydrocarbons, and as long as the gas remains in the ground, it will never generate the wealth associated ...

Britain’s windfall tax on oil and gas producers will not be applied if prices drop to certain levels for six months in a row, the finance ministry said on ...

U.S. President Joe Biden and British Prime Minister Rishi Sunak on Thursday agreed to deepen close economic ties between the United States and Britain, pledging to accelerate the clean ...

The House on Thursday passed a bill that allows staff at the Electricity Authority (EAC) to keep all their current healthcare and other benefits should they decide to transfer to ...

Oil fell for a second day on Wednesday as concerns over global economic headwinds deepened, erasing the price gains booked after top crude exporter Saudi Arabia’s surprise weekend pledge ...