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Chief Scientist Of Cyprus Meets With NASA JWST Scientist

by THEFUTURE.TEAM

May 23, 2024

Chief Scientist of the Republic of Cyprus for Research, Innovation and Technology, Demetris Skourides has held a meeting with Dr. Alexandra Lockwood, NASA James Webb Space Telescope Scientist, in Cyprus at the invitation of the United States Embassy in Nicosia.

During their meeting, which took place on 21 May, Skourides presented the work of the Research and Innovation ecosystem of Cyprus, while making special reference to the 2022 – 2027 Space Strategy of the Deputy Ministry of Research, Innovation and Digital Policy.

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He underlined that Cyprus’ geographical position favors the further development of the ecosystem in the space sector, which currently consists of about 50 unique entities, including 33 companies with research activities in robotics, earth observation and navigation systems.

Dr. Lockwood informed the Chief Scientist on the capabilities of the James Webb Space Telescope and the features it offers to humanity, enhancing the ecosystem. She also said that NASA is investing in Artificial Intelligence, creating the position of Chief AI Officer to lead efforts in the field.

Skourides referred to the important role of artificial intelligence in the search for exoplanets and gravitational waves since the process can be significantly simplified with the use of new technologies.

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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.