Energy

New energy era a dilemma for East Med
Energy Mediterranean

New energy era a dilemma for East Med

Energy prices have fallen sharply in the last 18 months and oil is likely to hover around $50 a barrel for the foreseeable future. Gas prices too have plunged to a point where developing the East Mediterranean gas finds hardly seems worthwhile, as energy expert Charles Ellinas told a recent […]

Court jams spanner in Israel’s gasworks
Energy Mediterranean

Court jams spanner in Israel’s gasworks

The energy potential of the East Mediterranean is enormous – more than 35 trillion cubic feet of natural gas have been found, most of it in Israel’s offshore waters. Much more could be found in the area if the US Geological Survey’s estimate of 122 trillion cubic feet of gas and several billion barrels of […]

Cyprus reboots offshore energy search
Energy Mediterranean

Cyprus reboots offshore energy search

EXCLUSIVE: Cyprus will launch a new licensing round for its offshore energy assets “as soon as possible,” Energy Minister Yiorgos Lakkotrypis told Global Sources Magazine. The European Union island republic needs to get back in action to map and develop fully the gas resources in its East Mediterranean waters. With […]

Saudi oil output barrels ahead
Energy Middle East

Saudi oil output barrels ahead

Saudi Arabia is playing for high stakes to preserve its prominence in the global oil market. For several months it has been pumping more than 10 million barrels a day of crude, driving prices down in an already glutted market and doing so with the deliberate aim of forcing high-cost producers out. This […]

East Med energy stars align
Energy Mediterranean

East Med energy stars align

We know that few put much faith in astrology, but 2016 could be the year that the stars begin to align for East Mediterranean energy.  A big gas discovery, rumors of new wells and development plans, letters of intent for supply deals and friendly chats among regional leaders are part of the mix […]

Can Iran come in from the cold?
Energy

Can Iran come in from the cold?

Iran’s return to the energy markets and its plans to develop its huge hydrocarbon resources may not be as straightforward as everybody thinks. According to one regional expert, the nuclear deal agreed this summer between Iran and the UN could be a slippery slope for international oil companies keen to […]

Iran clears path to global markets
Energy

Iran clears path to global markets

Iran’s 290-member Majlis approved a bill on October 13 to accept the historic deal on Iran’s nuclear energy program agreed with the international community in July. The Guardian Council must still ratify the bill before sanctions can be lifted and it is not entirely clear this sanctions-free era will begin. […]

Eni’s East-Med game changer
Energy Mediterranean

Eni’s East-Med game changer

THE phrase ‘game-changer’ was used often for East Mediterranean energy prospects. That was before Israel slammed into a regulatory brick wall and Cyprus discovered a couple of dry holes – never mind Lebanon’s political imbroglio and its stalled licensing round. But then Eni found the huge Zohr gas field in Egypt’s offshore […]