The Group (registered headquarters at 8A Chimarras Street, Maroussi), operating in 6 countries (Greece, Cyprus, Bulgaria, Serbia, Montenegro, Republic of North Macedonia), comprises 68 companies, including the parent company, which is listed on the Athens and London Stock Exchanges. The list of subsidiaries, the nature of their business, the shareholder composition, the percentages of ownership and other relevant information, are presented here (pp. 230-233).
The legal form of the Group is the result of the initial merger that took place in 1998, when the parent company was first listed, as well as subsequent corporate transactions (acquisitions).
23 aircraft refueling stations
at the main Greek airports
6.65 mil. m3
Storage tanks for crude oil and petroleum products located in Greece with a capacity of 6.65 mil. m3
2 LPG bottling plants
and 1 lubricant production and packaging plant
15 fuel storage
and distribution facilities
The Group holds a leading position in domestic marketing through its subsidiary HELLENIC FUELS & LUBRICANTS SA (EKO SA), which is active in the domestic retail marketing and sale of LPG, industrial, aviation & bunkering fuels, and lubricants.
The main activity is refining
(representing approximately 75%
of the Group’s total assets)
Covering 65% of
Greece’s refining capacity
To be a flexible, extroverted and innovative Energy Group that will be a leader in energy transition and the new industrial model of the country, continuing our powerful legacy with a clear future-oriented perspective.
To produce and supply top quality products, as well innovative and competitive low-carbon energy solutions, adding value to our customers in the Greek and international market.
For the HELLENIC PETROLEUM Group, the creation of added value for the economy and the society confirms the responsible attitude and the long-standing contribution of the Group and its subsidiaries.
*Active suppliers: Suppliers who have collaborated with the Group in the last three years.
Our strategy focuses on creating a balanced portfolio between our core business and New Energy Development.
This is the Group’s main activity with 3 refineries at Aspropyrgos, Elefsina and Thessaloniki, with a capacity of 6.65 mil. m3, which account for approximately 65% of the country’s total refining capacity.
All the Group’s refining products meet the current European specifications (Euro VI). In 2019, the Aspropyrgos refinery started the production of marine fuels of new IMO specifications, adapted to market trends in order to ensure the supply of the market with clean fuels. The Elefsina and Thessaloniki refineries do not produce high-sulphur fuel oil, so no adjustments to their operation were required.
At the same time, with the completion of the conversion of the MTBE and TAME gasoline additives production units into ETBE and TAEE units respectively, the Aspropyrgos refinery started producing bio-ethers. The conversions were carried out in order to be able to meet the obligation to supply E5 gasoline to the domestic market, without the addition of bioethanol, to improve the quality of the final product and to substitute imports.
The Group is active in the marketing of petroleum products both in Greece and abroad through its subsidiaries in Cyprus, Bulgaria, Serbia, Montenegro and Republic of North Macedonia.
In Greece, the Group has over 1,700 EKO and BP branded fuel stations, of which more than 230 are COMO, while 300 fuel stations operate abroad.
The consolidated company has the most comprehensive fuel supply network with:
The EKO and BP brands in Greece, despite the unprecedented conditions, maintained their market share at high levels in most products, ensuring the company’s leading position in service station fuels, industrial fuels and aviation and bunker fuels.
Crude oil supplies are coordinated centrally and are covered by term contracts and spot purchases.
The accessibility of the Group’s refineries and their flexibility to process a wide variety of types of crude constitute the key competitive advantage that has been proven to be particularly important for both the profitability and the ability of the Group to respond to abrupt fluctuations in the supply of specific types of crude, thereby ensuring the uninterrupted supply of the markets in which the Group operates.
The activities in the fields of power generation and natural gas concern the participation of the Group in ELPEDISON BV (50% HELLENIC PETROLEUM S.A., 50% EDISON) and DEPA S.A. (35% HELLENIC PETROLEUM S.A., 65% HRADF) respectively.
ELPEDISON S.A. is today the second biggest independent producer of electricity in Greece with two combined cycle gas turbine plants of a total installed capacity of 840 MW (plant in Thessaloniki with a capacity of 420 MW in operation since 2005, plant in Thisvi Viotia with a capacity of 420 MW in operation since 2010). Elpedison has also been granted a production license for a new 826 MW natural gas-fired combined cycle power plant in Thessaloniki.
Petrochemical activities focus on the production and marketing of polypropylene, BOPP films and solvents. The sector also includes the marketing of imported plastics and chemicals.
Based on contribution to the Group’s financial figures, the propylene-polypropylene-BOPP product chain constitutes the main activity in petrochemicals. The polypropylene production plant at Thessaloniki is mainly supplied by propylene produced at the Group’s refinery at Aspropyrgos. Polypropylene production is based on Basell technology, which is considered one of the leading technologies globally. Part of the production of the produced polypropylene is the raw material for the BOPP film production unit in Komotini (DIAXON S.A.).
ASPROFOS, a Group subsidiary, is the largest Greek provider of technical (engineering) and energy consulting services in S.E. Europe. It operates in accordance with internationally recognised standards and practices and has received the ISO 9001, ELOT 1429, ISO 14001 and OHSAS 18001 certifications.
HELPE RENEWABLES S.A. was founded in 2006 and is a 100% owned subsidiary of HELLENIC PETROLEUM Group. The company has set the goal of developing a significant installed capacity from wind, photovoltaic and biomass in the coming years, diversifying the Group’s energy portfolio and contributing to counterbalancing the Group’s greenhouse gas emissions.
The following projects are currently in operation:
The Group monitors and participates in developments in the field of Hydrocarbon Exploration and Production in Greece by submitting bids in international government tenders for the acquisition of rights in selected areas either independently or in a consortium with other international companies in the sector, also taking into account market conditions.
The areas of activity in Greece are:
Consider strategic options for our E&P portfolio, aiming to focus efforts on natural gas prospects in collaboration with credible partners that have the necessary capabilities:
HELPE ELECTROMOBILITY SERVICE PROVIDER S.A. is a wholly owned subsidiary of the HELLENIC PETROLEUM Group and was founded in 2020 with the discreet title ElpeFuture. ElpeFuture has set the goal of developing an extensive network of EV charging stations and related electromobility services services. ElpeFuture will operate in the new market as a Provider of Electromobility Services, as a Charging Infrastructure Operator, and as a Transaction Processing Agent.
HELLENIC PETROLEUM Group, constantly monitoring developments, contributes to the promotion and operation of sustainable mobility by supporting actions that aim to change the technological structure and fuel mix of means of transport for the transition to a low carbon footprint economy.