US energy major ExxonMobil last week spudded the Elektra wildcat well on Cyprus’ deepwater Block 5, the Middle East Economic Survey reported. A wildcat is a small-diameter well drilled in a new area
Cyprus fully supports the joint effort by the United States, Egypt and Qatar to get both sides of the war in Gaza to meet next week and resume talks on a ceasefire
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
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
Moody’s Investors Service has lowered the outlook on Government of Egypt to ‘negative’ from ‘stable’ mainly due to increasing risks and difficult macroeconomic and exchange rate rebalancing. The rating agency affirmed the
Oil prices will surge further, impacting the global economy and investors, if U.S. President Joe Biden fails to cool rising tensions in the Middle East during his visit to the region, warned
Cyprus and Egypt currently face the most immediate credit risks than other countries rated by Scope Ratings due to the Israel-Hamas conflict, said the German credit rating agency. In its report ‘Hamas attacks
The offshore Aphrodite natural gas field developed in Cypriot waters will be connected to an existing processing and production facility in Egypt via a subsea pipeline, one of the partners in the
Chevron is seeking a drilling ship to explore for natural gas off Cyprus, Egypt and Israel as the US energy major looks to meet growing demand in the region and Europe. Chevron,
Egyptian President Abdel-Fattah El-Sisi and President Nikos Christodoulides agreed to launch a cooperation forum between the two nations to strengthen their bilateral relations. Christodoulides chose Egypt for his first official visit outside
