The cabinet approved a Finance Ministry proposal to cut 10% VAT on household electricity bills for three months as part of its policy to tackle the fallout from the rise in energy
US giant ExxonMobil and Qatar Energy Friday signed an exploration and production-sharing contract for oil and gas in Cyprus’ Exclusive Economic Zone (EEZ) despite Turkey’s opposition to the deal. The contract was
Cypriot households and businesses should brace themselves for another wave of increases on their electricity bills, warns energy specialist Charles Ellinas. Talking to Astra Radio on Thursday, Ellinas said that electricity bills
Turkey threatens to prevent ExxonMobil’s search for oil and gas off Cyprus after Nicosia awarded it the rights to Block 5 in the island’s economic exclusive zone. Cyprus on Thursday awarded natural
Cyprus has awarded natural gas exploration rights for an offshore block to the ExxonMobil and Qatar Petroleum consortium, Energy Minister Natasa Pilides announced. In comments to the press, Pilides said that Block
Despite Cypriot consumers paying a high price for the delays in the arrival of natural gas, a jump in the market price has played out in Cyprus’ favour. The island is one
China Petroleum Pipeline Engineering (CPP), building the €300 mln Vassiliko LNG terminal, pledges to bring natural gas to Cyprus in June 2023 after some delays in the schedule due to COVID-19. The
Moody’s Investors Service has upgraded the long-term senior secured ratings of the state-owned Israel Electric Corporation to Baa1 from Baa2. The upgrade reflects significant reductions in IEC’s leverage and improvements in the
Results of confirmatory drilling in the Glafcos gas field to be conducted by the ExxonMobil-Qatar Petroleum joint venture will not be known before March, Energy Minister Natasa Pilides said. ExxonMobil is scheduled
The government wants to lower the VAT on household electricity bills from 19% to 9% for the next three months, with the Finance Ministry consulting with Brussels on its intention. The decision
