Lebanese Government to seek new IMF program, policy statement states
According to a policy document approved by the Cabinet late Monday, the new government of Lebanon will negotiate with IMF for a new program and work to address the financial default and the public debt in the country. A copy of the statement was reviewed by and it stated that the government would strive to achieve an economic revival…
Lebanese Government to seek new IMF program, policy statement states
According to a policy document approved by the Cabinet late Monday, the new government in Lebanon will negotiate with IMF for a new program and work on the financial default of the country and its public debt. A copy of the statement was reviewed by and it stated that the government would strive to achieve an economic revival, which could only be accomplished through restructuring the financial sector.
Egypt, Cyprus sign gas export deals, boosting Eastern Mediterranean energy cooperation
Egypt and Cyprus signed an agreement on Monday that allows the export of natural gas from Cyprus offshore fields to Egypt, for liquefaction, and then re-export into Europe. Both countries are seeking to strengthen the role of the Eastern Mediterranean as an energy hub. The 2025 Egypt Energy Show deals formalise the long-anticipated plan of linking Cypriot reserves with Egypt's LNG facilities.
Cyprus and Chevron led group agree on updated offshore field plan
Cyprus and the Chevron-led group have reached an agreement on a new development plan for an offshore gas field near Cyprus. The two parties released a joint press release on Friday. Chevron tried to change a field development plan for 2019 and this led to protracted discussions on the future of the Aphrodite field, south-east from Cyprus.
Israel urges the public to install solar panels on their roofs in order to generate electricity
Solar panels are being installed on roofs in Israel to harness the sun's power and help Israel meet its growing demand for electricity. Around 15% of Israel's electric production comes from renewable sources, while about 70% of it is natural gas. The Energy Ministry set a 30% target by 2030, which will increase dramatically by 2050, when the goal of net zero emissions becomes a reality.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State.
We learned a lot from the World Economic Forum in Davos in 2025
After a week-long discussion dominated by Donald Trump's return to the U.S. presidency, world leaders and business executives have left Davos in Switzerland. Israel's ceasefires against Hamas, Hezbollah and other terrorist groups sparked real regional peace talk. Friends and enemies agreed that Trump is the only person who can get Israeli Prime Minister Benjamin Netanyahu on board with a Palestinian State.
Energean UK forecasts higher production in 2025 on the strong Israel growth
Energean, a UK-based producer of gas, said it expected higher production levels in 2025. The company is betting on increased sales in Israel, its main market. The company, which gets its main production from a gas field offshore Israel, wants to double production in the next few years. It will do this primarily by developing new prospects in Israel including the Katlan Field.
Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.Brent crude futures were down 12 cents, or 0.15%, to $81.91 per barrel at 1415 GMT, after rising 2.6% in the previous session to their highest since July 26.U.S.
Hapoalim provides $1.5 billion to Dalia Energy for a new power plant
Dalia Energy, an Israeli company, announced on Thursday that it had signed a loan agreement with Bank Hapoalim for 5.3 billion Shekels ($1.5billion) to fund the construction of a brand new power plant. The deal, which is non-binding, is intended to fund the construction of a new power plant with a capacity of up to 850 megawatts at the site of Ashdod's current Eshol Power Station.
Israel strikes port, energy targets in Yemen
Israel launched strikes against ports and energy infrastructure in Houthi-held parts of Yemen on Thursday and threatened more attacks against the Iran-aligned militant group, which has launched hundreds of missiles at Israel over the past year.As Israeli jets were in the air, the Israeli military said it intercepted a missile headed…
Oil Rises on Lebanon Fears, possible OPEC cuts
Oil prices rose more than 2% on Tuesday as Israel threatened to attack the Lebanese state if its truce with Hezbollah collapses, and as investors positioned for OPEC+ to announce an extension of supply cuts this week.Brent crude futures posted their biggest gains in two weeks, rising by $1.79, or 2.5%, to settle at $73.62 a barrel. U.S. West Texas Intermediate crude futures also rose the most since Nov.
Upwind, a cloud security company based in Israel and the United States, raises $100 Million
Upwind, a cloud security company based in the United States and Israel, announced on Monday that it had raised $100m from private investors to meet increasing demand as businesses move their data rapidly to cloud storage. Craft Ventures led the round, with new investors TCV, Alta Park Capital, and existing investors Greylock, Cyberstarts…
Palm gains for the fifth time in a row, logging a weekly gain
Malaysian palm futures rose on Friday for the fifth consecutive session, and recorded a weekly gain amid concerns about supply as heavy rains in Malaysia exacerbated already low production levels. The benchmark palm-oil contract for February delivery at Bursa Malaysia's Derivatives exchange gained 138 Ringgit or 2.82% to $5,023 ringgit (1,131.31 USD) per metric ton.
Palm oil prices rise on the back of supply problems; set to gain weekly
Malaysian palm futures rose for the fifth session in a row on Friday, and are on track to gain a week-long gain amid concerns about supply as heavy rains were exacerbating low production levels. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange gained 121 Ringgit or 2.48% to 5,006 Ringgit ($1,128.24).
Energean CEO urges Israel issue new oil and Gas Exploration Licences
Energean, a gas company based in Israel, urged Israel on Thursday to issue new oil and gas exploration licenses offshore to meet the growing demand for gas in the region. Mathios rigas also called upon governments to develop new routes of export from Israel to Egypt and Cyprus. "We need to talk to the government (Israeli) about…
Oil Slips as U.S. Gasoline Stocks Surprise
Oil prices edged lower on Wednesday as a large, surprise build in U.S. gasoline stocks outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah.Brent crude futures fell 12 cents, or 0.2%, to $723.69 a barrel by 10:40 a.m. ET (1540 GMT) and U.S. West Texas Intermediate crude CLc1 eased 15 cents, or 0.2%, to $68.64.U.S.
Palm gains from firmer Chicago soyoil; production concerns in Malaysia
Malaysian palm futures rose on Wednesday, for the third session in a row. This was boosted by the firmer Chicago soyoil as well as production concerns. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery gained 36 ringgit or 0.76% to 4,771 Ringgit ($1,072.62) per metric ton. Anilkumar bagani…
Oil Edges to 2-Week High on Ukraine News
Oil prices edged up about 1% to a two-week high on Friday as the intensifying war in Ukraine this week boosted the market's geopolitical risk premium.Brent futures rose 66 cents, or 0.9%, to $74.89 a barrel by 11:39 a.m. EST (1639 GMT), while U.S. West Texas Intermediate crude CLc1 rose 77 cents, or 1.1%, to $70.87.That put both…
Palm prices rise on higher soyoil, in anticipation of a decline in production
The price of Malaysian palm oil futures increased on Tuesday, reflecting the gains made by rival soyoil and supported in part by an expectation that production will decline in Malaysia. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery rose 36 ringgit (0.77%) to 4,735 Ringgit ($1,061.18) per metric ton.
