Hellenic Petroleum

Hellenic Petroleum S.A.

Native name	Ελληνικά Πετρέλαια Ανώνυμη Εταιρεία
Romanized name	Elliniká Petrélaia Anonymi Etairia
Company type	Public Anonymi Etairia
Traded as	Athex: ELPE
Industry	Energy industry
Founded	1958 as Public Petroleum Corporation
Headquarters	Athens , Greece
Area served	SE Europe
Key people	Andreas Shiamishis (CEO) Yannis Papathanasiou (Chairman)
Products	Oil and Gas Exploration Natural Gas Trading and Transportation Oil Refining Petrochemicals Electricity Generation
Services	Fuel Stations, planes, Ships
Revenue	€9.222 billion (2021)
Operating income	€400.29 million (2021)
Net income	€341.15 million (2021)
Total assets	€7.779 billion (2021)
Total equity	€2.129 billion (2021)
Owner	Paneuropean Oil and Industrial Holdings (47%) HRADF (35.5%)
Number of employees	3,500 (2020)
Subsidiaries	EKO ABEE
Website	Official website
Footnotes / references in a consolidated basis

Hellenic Petroleum S.A. is one of the largest oil companies in Southeast Europe and with its roots dating to 1958 with the establishment of the first oil refinery in Greece (Aspropyrgos).

It adopted its current name in 1998, changing from the Public Petroleum Corporation S.A. (Greek: DEP), as the result of a corporate reorganization. It is a consortium of 6 subsidiaries and a number of additional companies of which it has varying degrees of management control.

Activities

Refineries and gas stations

Hellenic Petroleum operates three refineries in Greece, in Thessaloniki, Elefsina and Aspropyrgos, which account for 57% of the refining capacity of the country (the remaining 43% belongs to Motor Oil Hellas). Also owns OKTA facilities in Skopje, Republic of North Macedonia for transportation and marketing of petroleum products. Crude oil for the refineries is supplied from Saudi Arabia, Iraq, Iran, Libya and Russia. The company also operates over 1700 gas stations in Greece under the BP and EKO brands, and about 300 gas stations in Serbia, Bulgaria, Cyprus, Montenegro and the Republic of North Macedonia. It also has a network which sells LPG, jet fuel, naval fuels and lubricants.

Petrochemicals

Being the most important company that produces petrochemicals in Greece, Hellenic Petroleum has a very significant (over 50% in most cases) share of the market. Their basic products are plastics, PVC and polypropylene, aliphatic solvents and inorganic chemicals, such as chlorine and sodium hydroxide. The petrochemicals department is a part of the Thessaloniki refinery.

Electricity

Hellenic Petroleum operates a 390 MW natural gas power station in Thessaloniki. It opened in 2005 and it is operated through a subsidiary, T-Power. The fixed investment for this plant amounted to 250 million Euros.

Oil exploration

The Group has established partnerships with leading companies in the sector, been awarded exploration and production rights for hydrocarbons in a portfolio of areas in Western Greece, both offshore and onshore in various development steps.

Other

Hellenic Petroleum subsidiaries include the engineering company Asprofos and the polypropylene film production company, DIAXON, whose factory is situated in the industrial area of Komotini. The company also controls two shipping companies and has 35% shares in DEPA, the Greek natural gas company, and VPI, which produces PET resin. Since 2002 Hellenic petroleum owns 54.53% of shares in Jugopetrol AD

Ownership

The company is transitioning from a government-owned enterprise to a privately held enterprise. 21.8% of its shares are available to the public through a float on the Athens Stock Exchange, with the Greek government retaining 35.5% and Paneuropean Oil and Industrial Holdings S.A. (a Latsis family holding company) owning the remaining 45.5% of outstanding shares.

The chairman of the board of directors is Mr. Yannis Papathanasiou and the Chief Executive Officer of the company is Mr. Andreas Shiamishis.

See also

• Energy in Greece
• OKTA
• Aspropyrgos Refinery

External links

• Official website—(in Greek)