Pessimism about demand growth is weighing on oil prices worldwide, as demand forecasts for 2024 have been steadily revised downwards. The International Energy Agency and Energy Intelligence (IEA) now see demand growing
The OPEC+ group of oil producers has extended its production cuts totaling 3.66 mln bpd until 2025, maintaining a controlled supply while taking advantage of the current price of the benchmark Brent
With the Cyprus government scrapping the €1.2 bln concession for the development of the Larnaca marina and port this week, one can only wonder if all public contracts are now under scrutiny,
Energean plc, the London and Tel Aviv-listed exploration, production and commercialisation company, announced a significant find in offshore Egypt, continued natgas supply in Israel and a first quarter dividend. “We continue to
Nicosia rejects Chevron’s improved omtimisation plan Cyprus has chosen to play hardball with the partners of the country’s first gas discovery, the 3.5 tcf Aphrodite offshore gasfield, made back in 2011,
Egypt is unlikely be able to export any LNG to Europe this summer. In the face of declining production at Zohr, its priority is to secure its domestic energy needs. Production at
Italy’s Eni and French TotalEnergies confirmed Thursday the extension and “excellent” well deliverability at their joint natural gas field within the Cronos discovery in the Cyprus offshore exclusive economic zone. The announcement
The long overdue construction of the liquified natural gas terminal at Vassiliko, near Limassol, is crashing into a brick wall, as the government and the Chinese-led consortium that was awarded the contract
The US energy security role is being questioned as natural gas exports receive new scrutiny. The Biden administration is reconsidering the way it licences new LNG export terminals, under pressure from climate
Italian ENI’s exploration in the “Cronos-2” target within Block 6 of Cyprus’ exclusive economic zone (EEZ) appears to have yielded positive results, as gas flaring reported from the drilling site indicates the
