oil-dependent — Cyprus remains one of the European Union’s most oil-dependent countries in 2024, with a staggering 86 per cent of its energy originating from crude oil and petroleum products, according to Eurostat’s 2026 edition of Energy in Europe.
In a report published earlier this week, Eurostat revealed that Cyprus’s reliance on oil is further highlighted by the fact that 96 per cent of the energy imports consist of petroleum products, making it the highest rate in the EU. The overall energy import dependency ratio for the island stands at 88 per cent, illustrating a significant reliance on external sources for energy needs.
Interestingly, while Cyprus is heavily dependent on oil imports, it has made strides in domestic energy production through renewable sources. These sources accounted for nearly all of the island’s energy output, placing Cyprus among the highest performers in the EU alongside Malta, Latvia, and Portugal.
Across the EU, a notable shift is observed in energy production and consumption. In 2024, 43 per cent of the available energy in the EU was sourced from domestic production, while imports constituted 57 per cent. Crude oil and petroleum products dominated the energy mix at 38 per cent, followed by natural gas at 21 per cent, and renewables at 20 per cent.
Renewable energy has emerged as the main source of energy production in the EU, accounting for 48 per cent of total output. In contrast, nuclear energy contributed 28 per cent and solid fuels accounted for 15 per cent. This diverse energy landscape shows significant variation across member states—France, Slovakia, and Belgium lead in nuclear energy, while Poland, Estonia, and the Czech Republic rely heavily on solid fuels.
For Cyprus, the reliance on crude oil is particularly pronounced. The island recorded the highest oil import share in the EU, surpassing Malta, Sweden, and Greece. This dependence raises questions about energy security and the sustainability of Cyprus’s energy strategy in the long term.
In the broader context of EU energy imports, oil and petroleum products made up 67 per cent of the total imports in 2024, with natural gas following at 24 per cent. This trend underscores the ongoing significance of oil in the EU’s energy framework, despite the push for renewables.
Cyprus’s energy landscape is further complicated by its position among EU member states. While Malta leads with an energy import dependency of 98 per cent, Luxembourg stands at 91 per cent, and Cyprus follows closely at 88 per cent. In stark contrast, Estonia boasts a remarkably low dependency rate of just 5 per cent, showcasing the disparities within the bloc.
As the EU navigates the complexities of energy dependency, Cyprus’s reliance on oil raises critical considerations for future energy policies. The report identified the United States as the main external supplier for oil and petroleum products, while Norway and Australia lead in natural gas and solid fuels, respectively. These dynamics will shape the energy landscape for Cyprus and its neighbours as they seek to balance energy needs with sustainability goals.
