News

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

Offshore Energy·Feb 19·1 min read

First of 7 transformers delivered for first UK-Germany energy link

The delivery of the first transformer by Siemens Energy marks a tangible step forward for the inaugural energy interconnector between the United Kingdom and Germany. This critical infrastructure proje

Russia Slows Oil Drilling as Funds under Pressure

Russian oil companies are significantly reducing their drilling activity, marking the lowest pace in three years. This slowdown is primarily driven by financial

Rigzone·Feb 19

Occidental Q4 Profit Beats Estimates

Occidental has significantly strengthened its financial position by completing the strategic divestment of OxyChem, a move that substantially reduced its outsta

Rigzone·Feb 19

U.S. to Redirect Venezuelan Oil Royalties Into a Treasury-Controlled Fund

The U.S. Treasury has established a new mechanism for managing revenues from Venezuelan oil production, directing royalty payments and federal taxes into a U.S.

OilPrice·Feb 19

After Years of Buybacks, Big Oil is Drilling Again

Major oil companies are fundamentally altering their strategic direction, moving away from a primary focus on returning cash to shareholders towards reinvesting

OilPrice·Feb 19
Feb 19

Guyana Emerges as the Clear Winner in Venezuela’s Oil Reset

Feb 18

Iraq’s Supergiant Rumaila Field Poised Is for a Revival

Feb 18

Crude Surges as Iran Risks Grow

Feb 18

U.S. Crude Oil Inventories Plunge Following Massive Build

Feb 18

Cyprus accused of forging energy alliances to sideline Turkey

Feb 18

Wright Downplays Interest in Greenland's Rare Earths

Feb 18

Libya Awards Fuel Supply Deals To Western Firms, Aims To Cut Russian Imports

Feb 18

Global Energy Transition Investment Hit Record $2.3 Trillion in 2025

Feb 18

Cyprus to implement programme for livestock greenhouse emissions

Feb 18

Eni makes major gas, condensate discovery offshore Côte d’Ivoire