Hellenic Petroleum
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{{Infobox Company
| company_name = Hellenic Petroleum <br>(ΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ Α.Ε.)
| company_logo = [[Image:Hellenic petroleum.gif]]
| vector_logo =
| company_type = Public
| genre =
| foundation = 1958
| founder =
| location_city = Athens
| location_country = Greece
| location = <!-- this parameter modifies "Headquarters" -->
| origins =
| key_people = Chairman: Efthymios N. Christodoulou <br> 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 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.]] (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]] and [[Aspropyrgos]], which account for 73% of the refining capacity of the country (the remaining 27% belongs to [[Motor Oil]]), and one in the [[Republic of Macedonia]], the [[OKTA]] 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 from [[Saudi Arabia]], [[Iraq]], [[Iran]], [[Libya]] and [[Russia]]. The company also operates over 1400 gas stations in Greece and about 300 gas stations in [[Albania]], [[Georgia (country)|Georgia]], and the [[Republic of 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===
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]] and [[Libya]].
===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 in [[DEPA]], the greek natural gas company, and VPI, which produces [[polyethylene terephthalate|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]] is [[Efthymios N. Christodoulou]], and the Chief Executive Officer of the company is [[Panos Cavoulacos]], who also serves on the board of directors. The [[Latsis family]] has a controlling stake in Hellenic Petroleum and in [[2007]] increased its position.
{{Economy_of_Greece}}
==See 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]
{{Athex 20 companies}}
[[Category:Companies listed on the Athens Stock Exchange]]
[[Category:Oil and gas companies of Greece]]
[[Category:Power companies of Greece]]
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[[fr:Hellenic Petroleum]]