Turkey turns up the Cypriot heat
Cyprus hopes international pressure will stop Turkish drilling in the country's offshore
Turkey has deployed two drilling vessels in the waters around Cyprus, as the Ankara regime ups the ante in another game of high-stakes militant diplomacy. One ship, Fatih, is anchored just to the west of the island. Until recently a second, Yavuz, was close to the eastern coast of Cyprus. Now, Yavuz is set to drill in Block 7 in Cyprus’ economic exclusion zone (EEZ). In September, the Cyprus government granted a licence to a consortium of Total and Italy's Eni to explore for hydrocarbons in that block. The Turkish move confirms the declared determination of the Ankara government to press its interpretation of how the waters of the Eastern Mediterranean should be shared. Turkey asserts that i
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
