• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 22 hours World could get rid of Putin and Russia but nobody is bold enough
  • 20 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days Even Shell Agrees with Climate Change!
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Kyrgyzstan’s Explosive Car Market Growth Raises Eyebrows

Kyrgyzstan’s Explosive Car Market Growth Raises Eyebrows

Kyrgyzstan is seeing significant growth…

Mysterious Power Outage Paralyzes Tajikistan

Mysterious Power Outage Paralyzes Tajikistan

Tajikistan experienced a significant power…

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.

ADVERTISEMENT

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News