Greece's time for another look
The country's offshore has been ignored for years, but discoveries in surrounding regions have piqued interest
While offshore hydrocarbons finds have mounted across the East Mediterranean—notably in Israel, Cyprus and Egypt—Greece has struggled to attract explorers to its adjacent chunk of deep-water acreage. Now, ExxonMobil and Total are in the vanguard of companies preparing to take another look. The Greek energy ministry said on 31 May that a group comprising those two firms and Hellenic Petroleum had submitted an expression of interest in exploring two areas south of Crete-acreage to the west of Cyprus and north of Egypt. The companies held talks with the government earlier that month. If this interest turns into hands-on exploration it will be a coup for Athens, which badly needs fresh investmen
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
