Helleniq Energy acquires Cypriot fuel company Staroil

On October 26, 2026, the Greek energy group HELLENiQ Energy announced an agreement to acquire the Cypriot fuel retail and distribution company Staroil (Cyprus) Ltd. The transaction is being conducted through the group's local subsidiary, HELLENiQ Energy Cyprus Holdings Ltd. While specific financial terms of the acquisition remain undisclosed, the move is intended to strengthen the group's existing presence in the Cypriot market.

HELLENiQ Energy currently operates in Cyprus via its subsidiary EKO Cyprus, which manages approximately 100 petrol stations and supplies various fuel products. Staroil, which has operated since 2006, contributes a network of 13 privately owned petrol stations and an established fuel distribution business serving both businesses and individual consumers. The acquisition is expected to expand the group's overall operational reach and market consolidation within the regional oil industry.

The completion of this deal is currently subject to regulatory approval from the Cyprus Commission for the Protection of Competition. Until this administrative process concludes, the acquisition remains pending.