The message that Petrolina remains open to moves that can strategically strengthen its position, always with a focus on its long-term sustainability and growth, has been conveyed by the Group’s Managing Director and CEO of Petrolina (Holdings) Public Ltd, Dinos Lefkaritis.
In an interview with InBusinessNews, in the context of the 'IN Business Forecasting 2026' series, Lefkaritis, referring to the trend of acquisitions and mergers observed in recent years, stresses that he expects this trend to intensify in the energy sector, as requirements for technology, regulatory compliance and new forms of energy continue to increase.
With regard to Petrolina’s strategic growth plans, Lefkaritis notes that in 2026 the Group will continue its digital transformation and the upgrading of its network of service stations, with the aim of offering even better customer service and greater efficiency. At the same time, the Land of Tomorrow project is also being promoted, as it aims to create a modern and sustainable coastal community that will contribute to the economic and social development of the Larnaca–Dhekelia seafront.
When it comes to the tax reform, Lefkaritis expresses the view that – among other things – it creates a more modern and attractive framework for foreign investment, reducing bureaucracy and strengthening investments in sectors of high added value.
How do you believe the Cypriot economy will perform in the new year and what are its prospects?
The positive course of Cyprus’s key economic indicators shows that growth will continue in 2026 at a steady pace. Of course, there are external factors that could affect the outlook, such as international economic developments or geopolitical tensions.
Nevertheless, I believe that we can maintain stability in inflation, employment and public finances, with positive prospects for businesses and the wider economy.
"The Cypriot economy remains vulnerable to external factors, such as energy prices, tourism and international trade"
Which do you consider to be the greatest risks and how can they be addressed?
The Cypriot economy remains vulnerable to external factors, such as energy prices, tourism and international trade. Its small size and limited productive base make it even more sensitive to fluctuations.
To address these risks, it is important to continue fiscal discipline, promote structural reforms and strengthen investments in sectors of high added value, such as technology, tourism and the green economy.
At the same time, supporting employment and developing skills will ensure social cohesion and economic stability.
The energy sector in a period of significant change
How do you assess that the sector in which your company operates will perform in 2026, what are the major trends/changes you expect to occur and what are the most significant challenges?
The energy sector is in a period of significant change, with increased requirements in technology, regulations and investments in new forms of energy.
At Petrolina, we closely monitor trends in acquisitions and mergers, as they offer opportunities for greater efficiency and for strengthening our position in the market.
The challenge for us is to balance the maintenance of our traditional activities with the need for innovation and sustainability, investing in infrastructure and new initiatives that will ensure long-term competitiveness.
"Petrolina remains open to moves that can strategically strengthen its position, always with a focus on its long-term sustainability and growth"
A strong trend that appears to be becoming established in Cypriot business is that of acquisitions and mergers. Will we see this strongly in your sector as well?
It is true that Cypriot business is showing a clear trend towards acquisitions and mergers, as companies seek greater economies of scale, diversification and strengthening of their position in the market.
This is a natural development, particularly in sectors where large investments and high levels of expertise are required – and the energy sector is one of them. In our sector, I expect this trend to continue and possibly intensify, as requirements for technology, regulatory compliance and investments in new forms of energy increase.
Petrolina remains open to moves that can strategically strengthen its position, always with a focus on its long-term sustainability and growth.
Strategic growth and tax reform
What should we expect in terms of plans and the strategy for growth and expansion of your organisation during 2026? What actions do you intend to take in this direction?
In the new year, we are continuing our digital transformation and the upgrading of our network of service stations, in order to offer even better service and greater efficiency.
At the same time, we are promoting the Land of Tomorrow project on the Larnaca–Dhekelia seafront, with the aim of creating a modern and sustainable coastal community that will contribute to the economic and social development of the area.
The new year is anticipated to see the implementation of tax reform, which is taking place 22 years after the previous tax reform. How do you assess that it will affect the Cypriot economy, businesses, and the attraction of foreign investment?
The tax reform is expected to have multiple effects. On the one hand, the increase in the tax-free threshold and the relief measures for households will strengthen purchasing power and create opportunities for businesses.
On the other hand, changes in corporate taxation require careful planning, in order to maintain competitiveness and the sustainability of investments.
The reform creates a more modern and attractive framework for foreign investment, reducing bureaucracy and strengthening investments in sectors of high added value.
Its success will depend on correct implementation and prudent management.
(Source: InBusinessNews)
