AGP Executive Report
Last update: 7 hours agoFuel Market: HELLENiQ ENERGY, owner of EKO Cyprus, has agreed to acquire STAROIL, adding 13 stations to its roughly 100-station network. The deal requires approval from Cyprus’s competition watchdog; its impact on prices remains unclear. Economic Growth: Cyprus GDP grew 3.3% year on year in Q2, driven by household spending and investment, including a sharp rise in transport equipment investment. Energy: Eni has moved the Cronos gas project into execution after signing key construction, installation and drilling contracts. Production is targeted for the first half of 2028, with gas set to be processed and exported via Egypt. Trade: Cyprus-China trade rose 26% in 2025 to $1.44 billion, with shipping, tourism, green technology and digital services highlighted as areas for closer cooperation. Maritime Security: Cyprus signed a deal with Israel for a new patrol vessel and upgrades to an existing ship, strengthening patrol, surveillance and search-and-rescue capabilities.
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