Petrolina's acquisition of the share capital of ExxonMobil Cyprus and the creation of eWise Cyprus Ltd mark one of the most significant business moves in the petroleum sector in Cyprus in recent years.
A few months after the completion of the agreement, the first results are already reflected in the collaborations that are being developed and in the ability for customers to be better served.
eWise-ESSO General Manager, Natasa Pilides, explains to InBusinessNews how the new corporate reality enhances ESSO’s flexibility and growth potential, while maintaining the quality and identity of the international brand. At the same time, she highlights how the synergies of the acquisition translate into tangible benefits for the consumer, noting that during the last months of the energy crisis, the Group absorbed a significant part of the increased cost of fuels to limit the burden on households and businesses as much as possible.
At the same time, wshe outlines eWise's role in the Group's strategy for the green transition and new energy solutions.
Following the completion of the acquisition and the creation of eWise Cyprus Ltd, what are the first tangible results you see in terms of synergies and collaborations, operating costs and the commercial strategy of the Petrolina Group?
Petrolina and eWise continue to operate as independent companies, maintaining their brands (Petrolina - Agip - Eni and ESSO, respectively), as well as their own commercial and development strategy.
The main goal of both companies remains to maintain the high standards of quality and safety, of which we are proud, as well as to strengthen our socially and environmentally responsible culture and operation.
Additionally, I would like to emphasise that our main concern is the best possible service and the protection of the consumer, whom we treat with absolute appreciation and respect. An illustrative example is the last months of the energy crisis, which accompanies the geopolitical crisis in our region, during which the Group absorbed a large part of the increased cost of fuel, in order to limit the burden on the consumer as much as possible.
In the meeting with ESSO gas station owners, special mention was made of maintaining the quality and identity of the brand. How does the new management manage the balance between ESSO's international heritage and the new strategic direction under Petrolina?
The change in ownership, after a period of more conservative activity and development, enables us as eWise - ESSO, to move with greater flexibility and a faster pace, adopting a more customer-centric strategy, which offers more incentives and benefits to our customers, as well as friendlier prices.
Our goal is to simultaneously maintain the excellent quality for which ESSO is internationally known, for which we are frequently audited and supervised by ExxonMobil, while at the same time, responding to the modern needs and demands of consumers.
The acquisition has significantly changed the balance within the Cyprus petroleum market. How do you assess that it is affecting competition in the sector and what is Petrolina's current position in the Cypriot energy market?
The thorough review carried out by the Commission for the Protection of Competition, as well as the commitments undertaken by the Group as a result of the relevant decision of the Commission, ensure that competition in the sector remains completely healthy and does not significantly differ following the acquisition. Furthermore, eWise operates as an independent company, with separate staff and strict safeguards to maintain its independence.
Please note that the petroleum sector is perhaps the most intensively and strictly regulated sector of the economy. Any phenomena of unfair competition would be immediately noticed by the competent supervisory authorities, such as the Consumer Protection Service. In any case, ethics and responsible entrepreneurship are a compass for our Group and would never allow us to act to the detriment of competition or the consumer.
How does eWise Cyprus Ltd fit into the Group's strategy for energy transition and new energy solutions?
As part of the Petrolina Group, eWise has access to advanced technology solutions regarding the installation of electric car chargers at gas stations, as well as photovoltaic systems and energy-saving measures, always aiming to contribute to the green transition and reduce our energy footprint.
The Petrolina Group, through a special department dealing with innovation and the implementation of advanced solutions for alternative energy sources, actively contributes to the green transition through various projects related to waste management (waste to energy), the utilisation of alternative energy sources, as well as the development of electric car charging points throughout Cyprus.
At the same time, the Lefkaritis Group is active in the installation of photovoltaic systems in small and large-scale projects, while, through Petrolina Electric, it is among the leading suppliers of energy from alternative sources in Cyprus.
(Source: InBusinessNews)
