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Petroleum Sector in Cyprus Experiences Notable Upswing in October 2025

Steady Increase in Total Sales

Petroleum product sales in Cyprus climbed by 4.7% in October 2025 compared to the same month last year, according to data released by the Cyprus Statistical Service (Cystat). Total volumes reached 141,540 tonnes as strong performance in several product categories underpinned the growth.

Significant Gains in Key Sectors

Marine gasoil led the charge with an impressive 101.9% increase year-on-year, reflecting robust demand in maritime operations. Other segments also enjoyed notable gains: aviation kerosene rose by 5.9%, asphalt sales surged by 44.9%, heavy fuel oil experienced a 26.8% increase, motor gasoline advanced by 4.6%, and liquefied petroleum gas saw a modest rise of 3.6%. In contrast, road diesel recorded a minor gain of 1.7%.

Mixed Trends in the Market

Not all product lines followed the upward trajectory. Sales of light fuel oil declined sharply by 53.5%, while heating gasoil fell by 11.4%. Additionally, filling station activity contributed 61,904 tonnes of product sales, representing a 3% increase. However, a month-to-month comparison with September 2025 revealed an overall decline of 2.2%, with marine gasoil, aviation kerosene, motor gasoline, and road diesel all registering decreases.

Inventory Adjustments and Yearly Growth

At the end of October, petroleum product stocks were down by 17.6% from the previous month, highlighting a tightening in inventory levels. Despite these monthly fluctuations, the cumulative ten-month period from January to October 2025 saw a sustained 4.7% growth compared to the corresponding period in 2024, underscoring a resilient market performance.

Conclusion

The data illustrate a dynamic and evolving energy landscape in Cyprus, with substantial gains recorded in critical sectors such as marine and aviation fuels. Such trends not only bolster immediate economic indicators but also signal longer-term shifts in market demand and resource allocation.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

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