- Hellenic Petroleum
Infobox Company
company_name = Hellenic Petroleum
(ΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ Α.Ε.)
company_
vector_
company_type = Public
genre =
foundation = 1958
founder =
location_city = Athens
location_country = Greece
location =
origins =
key_people = Chairman: Efthymios N. Christodoulou
CEO: Panos Cavoulacos
area_served = SE Europe
industry = Oil and Gasoline
products =
revenue = US$ 11.37 billion (2006 )
operating_income =
net_income =
num_employees = 5516 (2005)
parent =
divisions =
subsid =
owner =
company_slogan =
homepage = [http://www.hellenic-petroleum.gr/ www.hellenic-petroleum.gr]
dissolved =
footnotes =Hellenic Petroleum S.A. is the largest oil refining company in
Greece and with its roots dating to1958 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. (DEP), as the result of a corporate reorganization. It is a consortium of 9 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 andAspropyrgos , which account for 73% of the refining capacity of the country (the remaining 27% belongs toMotor Oil ), and one inFYROM , theOKTA refinery, which is supplied by crude oil through pipelines from Thessaloiniki and covers approximately 85% of the country's needs. Crude oil for the refineries is supplied fromSaudi Arabia ,Iraq ,Iran ,Libya andRussia . The company also operates over 1400 gas stations in Greece and about 300 gas stations inAlbania , Georgia, andFYROM . It also has a network which sellsLPG ,jet fuel , naval fuels andlubricants .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 andpolypropylene , aliphatic solvents and inorganic chemicals, such aschlorine andsodium 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 in2005 and it is operated through a subsidiary, T-Power. The fixedinvestment for this plant amounted to 250 million Euros.Oil exploration
With law 2289/95, Hellenic Petroleum holds the exclusive rights for exploration and production of hydrocarbons in 62000 km² in Greece. The company is also active abroad, in cooperation with foreign companies, in
Albania andLibya .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 a shipping company and has 35% shares inDEPA , the greek natural gas company, and VPI, which produces PET resin.Ownership
The company is transitioning from a government-owned enterprise to a privately-held enterprise. 30.19% of its shares are available to the public through a float on the Athens Stock Exchange, with the Greek government retaining 35.49% and
Paneuropean Oil and Industrial Holdings S.A. owning the remaining 34.32% of outstanding shares.The Chairman of the
Board of Directors isEfthymios N. Christodoulou , and the Chief Executive Officer of the company isPanos Cavoulacos , who also serves on the board of directors. TheLatsis family has a controlling stake in Hellenic Petroleum and in2007 increased its position.ee also
*
OKTA
*Aspropyrgos Refinery External links
* [http://www.hellenic-petroleum.gr Hellenic Petroleum Web Site]
* [http://www.hellenic-petroleum.gr/Uploads/resource/CEO%20SPEACH%20AEGEAN_MARKETPLACE_EN.pdf Hellenic Petroleum: Story of Transformation and Growth]
* [http://www.hellenic-petroleum.gr/online/generic.aspx?nid=92&mid=51 Investments in Low-Sulphur fuel production in Thessaloniki]
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