News

Daily news and original analysis on the Cyprus and Eastern Mediterranean oil & gas sector.

All ENI ExxonMobil TotalEnergies Shell Chevron Aphrodite Glaucus
Offshore Technology·Apr 29·1 min read

UAE to quit OPEC, opening door to higher output outside quotas

The United Arab Emirates (UAE) has declared its intention to withdraw from OPEC, effective May 1st, 2026. This decision signals a potential shift in the global oil market dynamics as the UAE would be

UAE Withdraws from OPEC, OPEC+

The United Arab Emirates (UAE) has reportedly withdrawn from OPEC and OPEC+. This decision, according to the UAE Ministry of Energy and Infrastructure, is in li

Rigzone·Apr 29

Brent Tops $114 as Market Braces for Prolonged Disruption

Brent crude oil prices have surpassed $114 per barrel, and WTI exceeded $103, driven by concerns over stalled U.S.-Iran negotiations and the potential for a pro

OilPrice·Apr 29

Christodoulides tells Chevron that Cyprus gas deal is near completion

President Christodoulides recently informed a Chevron delegation that the Cypriot government is nearing completion of its internal review processes for a natura

In-Cyprus·Apr 29·Chevron Corporation

China’s LNG Imports Collapse to Six-Year Low as Prices Surge

China's LNG imports are projected to hit a six-year low in April, falling to 3.5 million tons, a 30% year-over-year decrease. This decline is primarily attribut

OilPrice·Apr 29
Apr 29

BP reports 453% surge in net profit to $3.8bn in Q1 2026

Apr 29

Australian State Launches First Gas Tender in Years

Apr 29

The Oil Supply Shock Will Scar the World for Years

Apr 28

While the Middle East Rebuilds, A New Energy Bloc Rises Under U.S. Direction

Apr 28

Iran War Triggers Helium Shock Threatening Global Chip Supply

Apr 28

First Loaded Crude Supertanker Clears Hormuz Without Using Larak Channel

Apr 28

Crude Inventories Continue to Decline Amid Strong Oil Product Draws

Apr 28

Wright Says Hormuz Can Open Without Clearing All Mines

Apr 28

Aramco Deepens Push Into AI and Advanced Technologies

Apr 28

Oil Gains as Supply Risks Persist