By Theo Theodorou There has been a complex relationship between the price of WTI crude and the US Dollar. Given that crude oil is denominated in USD, it was anticipated that a
EuroAsia Interconnector, operator of the subsea electricity cable that will link the power grids of Israel, Cyprus and Greece, said it has written to the Audit Office over comments about a possible
EuroAsia Interconnector, the Israel-Cyprus-Greece electricity line with a capacity to carry more than the island needs, will significantly help reduce consumer bills and make the economy more competitive. With household bills soaring
Despite a 15% drop in electricity prices since last year, power bills are twice as big as in the summer of 2020, a few months before Russia’s invasion of Ukraine. For July
Consumers are reassured they will not face blackouts triggered by the record high energy demand from air-conditioning units working overtime during the sweltering summer. As Cyprus enters a second week of extremely
Shares in French cable and fibre optic giant Nexans soared 5% Wednesday after announcing a record €1.43 bln contract to build the world’s longest and deepest subsea electricity link between Cyprus and
Scorching temperatures prevailing over Cyprus are testing the island’s power production capacity, feeding growing calls for the government to rethink its decision to scrap an electricity bill subsidy. With air-conditioning units working
The government aims to solve energy storage within the next 18-24 months so the grid does not reject green energy, said Energy, Commerce and Industry Minister George Papanastasiou. Addressing a press conference
The drilling of an appraisal well at the offshore Aphrodite natural gas field was successfully completed with positive signs of undersea riches, said Energy Minister George Papanastasiou. He told journalists Monday that the
The eastern Mediterranean has been attracting increased attention from energy companies and European governments in recent weeks, as the realisation of the anticipated difficulties in securing next winter’s gas supplies sinks in.
