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Cyprus Advances In U.S. Visa Waiver Program Effort

Cyprus is making significant progress in its bid to join the U.S. Visa Waiver Program (VWP), a move that would enable Cypriot citizens to travel to the United States without a visa for stays of up to 90 days. Government officials have expressed optimism, noting that the country is on a “very good path” towards meeting the program’s requirements. This development is part of Cyprus’s broader strategy to strengthen bilateral relations with the U.S., enhancing opportunities for travel, business, and cultural exchange.

The VWP is a significant initiative that allows citizens of participating countries to travel to the United States for tourism or business without needing to obtain a visa. For Cyprus, joining this program would mark a milestone in its diplomatic and economic relations with the U.S. The process involves meeting strict criteria, including maintaining high-security standards, effective counterterrorism measures, and low visa refusal rates.

Cyprus’s government has been actively working on fulfilling these requirements, and recent discussions with U.S. officials have reportedly been positive. The optimism surrounding Cyprus’s application is fueled by the country’s ongoing efforts to align with the necessary legal and security standards required by the VWP. These include enhancing border security, implementing advanced traveler information systems, and ensuring robust law enforcement cooperation with the U.S.

The potential inclusion of Cyprus in the VWP is expected to have several benefits, particularly in boosting tourism and business travel between the two nations. It would make travel more accessible for Cypriots, fostering closer economic and cultural ties. Moreover, it could lead to increased U.S. investment in Cyprus, as easier travel could encourage more business ventures and partnerships.

Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

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.

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