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

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Rigzone·Apr 29·1 min read

UAE Withdraws from OPEC, OPEC+

In an unprecedented move that fundamentally reshapes global oil geopolitics, the United Arab Emirates has formally declared its exit from both OPEC and the broader OPEC+ alliance. The decision marks t

Brent Tops $114 as Market Braces for Prolonged Disruption

Global crude benchmarks surged sharply during early European trading, with Brent surpassing $114 per barrel and WTI topping $103 per barrel amid escalating geop

OilPrice·Apr 29

Christodoulides tells Chevron that Cyprus gas deal is near completion

Cypriot President Nikos Christodoulides has informed a visiting Chevron executive delegation that domestic administrative procedures to finalize the revised dev

In-Cyprus·Apr 29·Chevron Corporation

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

Chinese LNG intake is projected to tumble to roughly 3.5 million tons in April, marking its lowest monthly import volume since 2018. The steep drop highlights h

OilPrice·Apr 29

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

British energy major BP has delivered an extraordinary rebound in its opening quarter of 2026, driven by higher upstream margins, optimized trading operations,

Offshore Technology·Apr 29
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

Apr 28

UK Borrowing Costs Hit Highest Since 2008 as Oil Tops $111