Shell cashes out of Aphrodite as Cyprus still waits for first gas

Shell is leaving Cyprus’ Aphrodite gas field in a deal worth as much as $720 million, handing its share to Hungary’s MOL Group before the long-delayed project receives its final investment approval. The sale may sound like a major payday for Cyprus, but …

Former energy minister blames EAC and CERA for Cyprus power shortages

Avoiding a direct clash with the Presidential Palace over his departure from the cabinet, Giorgos Papanastasiou diplomatically conveys his frustration with the President's political choices. Speaking to Kathimerini Cyprus, the former Energy Minister …

MOL set to replace Shell as third partner in Aphrodite gas project offshore Cyprus

MOL Group has agreed to acquire Shell's wholly owned subsidiary BG Cyprus, which holds a 35% interest in Block 12 offshore Cyprus, for up to $720 million.  The acquisition would give the Hungarian energy company a stake in the Chevron-operated …

UN rejects Israeli journalist’s comparison to Cyprus and Syria occupations

The UN on Monday rejected suggestions that Secretary General Antonio Guterres had applied different standards to Cyprus and Syria, saying references to parties involved in the Cyprus issue are made when they are considered helpful to advancing the peace …

Perseid meteor shower to light up Cyprus skies next week

The astronomical organisation on Monday announced that Cyprus will have an opportunity to observe the annual Perseid meteor shower under particularly favourable conditions next week, with the display expected to peak overnight between next Wednesday and …

Cyprus Business Now: Kazakos, banks, Temu, vacations, supermarkets, property

Cypriot shipping executive Thomas Kazakos has taken the International Chamber of Shipping’s (ICS) campaign for a toll-free Strait of Hormuz to Bahrain’s Foreign Minister, as the industry steps up pressure for the restoration of safe and unrestricted …

Guterres Signals Optimism for Cyprus Talks as UN Pushes for

'Quite some time' - Iké Ugbo addresses Sheffield Wednesday exit and explains why he has made Cyprus move

Sheffield Wednesday announced the departure of striker Iké Ugbo on Sunday, confirming he had joined Cypriot club Apollon Limassol FC on loan. Sheffield Wednesday striker Iké Ugbo has claimed he had been searching for a club with a winning mentality “for …

Shell agrees $720m BG Cyprus sale to MOL

Shell has agreed to sell BG Cyprus to MOL Group for up to $720 million, subject to customary adjustments and contingent payments. BG Cyprus is a 100%-owned Shell subsidiary and holds a 35% non-operated interest in Cyprus Offshore Block 12, which contains …

Cyprus ranks second in EU for land under desertification conditions

Cyprus has the second highest percentage of land under desertification conditions in the EU, according to a European Commission report published on Tuesday. The report by the commission’s Joint Research Centre (JRC) found that 45 per cent of Cyprus is …