News

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

OilPrice·Feb 19·1 min read

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.-controlled fund rather than directly to

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

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

Guyana has emerged as a significant beneficiary of the shifting oil landscape in Venezuela, rapidly transforming into a major global oil producer. This rise is

OilPrice·Feb 19·ExxonMobil

Iraq’s Supergiant Rumaila Field Poised Is for a Revival

Iraq is strategically focusing on revitalizing its supergiant Rumaila oil field as the cornerstone of its ambitious plan to elevate crude oil production capacit

OilPrice·Feb 18

Crude Surges as Iran Risks Grow

Global crude benchmarks experienced a notable increase, driven by market apprehension over escalating geopolitical tensions involving Iran and the potential for

Rigzone·Feb 18
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

Feb 18

EU Considers Emergency Steps to Restore Russian Oil Through Druzhba Pipeline

Feb 18

Turkey’s TPAO, Shell Partner for Offshore Exploration in Bulgaria

Feb 18

Türkiye‘s national oil & gas company enters Bulgarian offshore license as partner to Shell