Cyprus fuel prices fall as emergency tax cut takes effect
The Cypriot government has enacted an emergency reduction in consumption tax on fuels, providing immediate relief to motorists facing rising prices at the pumps. This legislative action, driven by the Council of Ministers, aims to mitigate the impact of global energy price inflation on domestic consumers and the broader economy. While a short-term fiscal measure, it underscores the nation's vulnerability to international energy market volatility.
In-Cyprus · April 4, 2026
ExxonMobil and QatarEnergy declare Glaucus and Pegasus gas fields commercially viable
ExxonMobil and QatarEnergy have officially declared the Glaucus and Pegasus natural gas discoveries in Cyprus's Block 10 as commercially viable, a critical milestone that paves the way for their eventual development and exploitation. This declaration, confirmed by the Cypriot Energy Minister, signifies the consortium's confidence in the fields' economic potential and marketability, moving them closer to a Final Investment Decision.
In-Cyprus · April 4, 2026