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Cyprus To host conference On cultural rights in Framework Of MED9 In September

by THEFUTURE.TEAM

August 14, 2024

A conference on ‘Cultural Rights in Times of Crisis – Contemporary challenges and perspectives’ will be held in Cyprus on 16 September, within the framework of the 9 Mediterranean Member States of the EU (MED9) Summit.

The conference is being organised by the Deputy Ministry of Culture in collaboration with the Organisation for European Programmes and Cultural Relations and the University of Cyprus.

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According to a press release by the Deputy Ministry of Culture, the Conference will be followed by a closed online meeting of the Ministers of Culture of the MED9.

The aim of the conference, which will start with a keynote lecture by UN Special Rapporteur in the Field of Cultural Rights Dr Alexandra Xanthaki and will bring together experts from both Cyprus and abroad, is to discuss the importance of safeguarding cultural rights and the Mediterranean cultural heritage, as well as to promote regional cultural cooperation in supporting artistic freedom in the spirit of cultural diversity, intercultural dialogue, equality, and inclusiveness.

The conference will be inaugurated by the Deputy Minister of Culture, Vasiliki Kassianidou, the Rector of the University of Cyprus, Professor Tasos Christofides and the Head of the Cultural Policy Unit of the European Commission Catherine Magnant.

The proceedings will take place on Monday, 16 September, at the University of Cyprus. The conference will be open to the public and includes a panel discussion with the participant experts.

As it is noted, acknowledging the political urgency of safeguarding cultural rights in times of crisis, particularly in the context of the accelerating pace of political, economic, climate, and technological challenges, the aim is that at the end of the meeting, the Ministers will adopt a Declaration on Cultural Rights.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.