Cyprus authorities probe Petrolina’s acquisition of ExxonMobil
Published on: Sep 12, 2025
Investigation targets potential competition concerns in the fuel retail market as Petrolina takes over 68 Esso-branded stations.
Cyprus’ Commission for the Protection of Competition (CPC) announced that it has opened an investigation into potential anti-competitive practices linked to Petrolina’s acquisition of ExxonMobil’s share capital.
The deal, completed through Petrolina subsidiary Med Energywise and notified in March, has raised concerns about its impact on the petroleum products market. The CPC said the transaction “raises doubts as to its compatibility with the functioning of competition, given it is likely to affect the sales of petroleum products both horizontally and vertically.”
Petrolina announced the €48.6 million deal in March to acquire 68 Esso-branded service stations, marking a significant expansion of its footprint in the Cypriot fuel retail market.
According to the CPC, the merger could lead to high concentration in both fuel import and retail markets. Given the close competitive relationship between Petrolina and ExxonMobil, regulators warned the deal could increase the risk of higher prices and market coordination.
The watchdog also highlighted possible restrictions on competition in local retail markets, particularly within a 4km radius of petrol stations operated by the two companies.
