• 3 days Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 2 days Statoil Changes Name
  • 3 days Tillerson just sacked ... how will market react?
  • 2 days Russian hackers targeted American energy grid
  • 2 days Is $71 As Good As It Gets For Oil Bulls This Year?
  • 3 days Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn
  • 3 days Proton battery-alternative for lithium?
  • 3 days Ford Recalls 1.38 Million Vehicles (North America) For Loose Steering Wheel Bolt
  • 2 days Oil Boom Will Help Ghana To Be One Of The Fastest Growing¨Economies By 2018!
  • 2 days Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 3 days I vote for Exxon
  • 2 days HAPPY RIG COUNT DAY!!
  • 3 days UK vs. Russia - Britain Expels 23 Russian Diplomats Over Chemical Attack On Ex-Spy.
  • 3 days Why is gold soooo boring?
  • 3 days South Korea Would Suspend Five Coal - Fire Power Plants.
  • 2 days Spotify to file $1 billion IPO
Oil Prices Rise Despite Climbing Rig Count

Oil Prices Rise Despite Climbing Rig Count

The oil rig count rebounded…

Is OPEC Producing More Oil Than It Claims?

Is OPEC Producing More Oil Than It Claims?

As Venezuela continues its downward…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

U.S. Will Not Interfere With Cyprus’ Exploration Agenda


The United States will not interfere with Cyprus’ ability to look for oil and gas resources offshore, according to a statement on Wednesday by Kathleen Doherty, the U.S. ambassador to the Mediterranean island country.

U.S. energy giant ExxonMobil docked its leased exploration vessel in the Cypriot port of Limassol this week in preparation for impending offshore drilling. Turkish warships have blocked the Italian company Eni from docking similar vessels twice this year. Ankara argues that fossil fuel revenues must be shared with the Turkish Cypriots in the north of the divided island.

"The United States has consistently reiterated its support for the Republic of Cyprus’ right to develop its resources in its Exclusive Economic Zone,” Doherty said during a news briefing. "At the same time, we have noted that we believe the island’s oil and gas resources, like all of its resources, should be equitably shared between both communities in the context of an overall settlement.”

Turkey is the only country to recognize the independence of the Turkish Cypriot government from Nicosia. Ankara had invaded the area in 1974. All other countries recognize Cypriot sovereignty over the whole island.

Last month, supermajors Eni and Total announced that they had made a promising gas discovery offshore Cyprus that confirms that the Zohr-like play where Eni found the biggest gas deposit in the Mediterranean offshore Egypt extends into the Cyprus Exclusive Economic Zone.

Related: Here’s What’s Next For Electric Cars

The discovery, named Calypso 1, will need additional studies to assess the range of the gas volumes in place and define further exploration and appraisal operations, Eni said in its statement.

“Cyprus is moving forward with its exploration program and quest to become a #NatGas producer,” Georgios Lakkotrypis, Minister of Energy, Commerce, Industry & Tourism of Cyprus, said after Eni’s announcement.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News