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
ExxonMobil is scheduled to drill an appraisal well at its Glaucus gas discovery in Block 10 by the end of this month or early December at the latest. In February 2019, ExxonMobil
There is no doubt that prices, in general, are rising, and we need to have a plan to tackle this soaring price hike. This analysis is limited to the increase in the
Two key energy projects, the EuroAsia Interconnector subsea electricity cable and importing natural gas for power generation, will end the energy isolation of Cyprus and reduce emissions. Both goals align with EU
Cypriots must dig deep into their pockets to pay November electricity bills, as the cost of energy is at its highest since 2012. A 10% discount offered by the Electricity Authority of
Cyprus taxes on household electricity bills are among the highest in Europe – in the top one-third of the range – in company with rich countries such as Germany and Denmark. According
The Cabinet decided to reduce VAT to 5% from 19% on Electricity Authority of Cyprus (EAC) bills for low-income households to mitigate the burden of energy price hikes. Energy Minister Natasa Pilides
Multinational exercise Nemesis 2021 took place in Cyprus’ exclusive economic zone (EEZ) to test safety and security procedures amid Turkey intervention threats around energy exploration. Aeronautical units and military personnel from Cyprus,
