Hellenic Petroleum

Over 30 areas have been identified for hydrocarbon exploration in the Ionian Sea and off the coast of western and southern Crete, the state-run Athens-Macedonian News Agency (ANA-MPA) reported on Sunday.

The map of "plots" was presented by Hellenic Hydrocarbon Resources Management chief Yiannis Basias at an energy conference on the Eastern Mediterranean, ANA-MPA said.

The Greek government is considering the full sale (100 pct) of the country's state-controlled gas company DEPA as part of its privatization's plan, according to Energy Ministry sources cited by state-run news agency ANA-MPA.

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing.

The transformation of Public Gas Corporation (DEPA) is back on the table ahead of crucial decisions for the privatization of the utility that is 65 percent owned by the state privatizations fund (TAIPED) and 35 percent owned by Hellenic Petroleum (HELPE).

Greece's privatization agency is considering selling a stake in the country's biggest oil refiner Hellenic Petroleum, Hellenic said on Friday.

The agency has reviewed the possibility of selling a stake in Hellenic Petroleum via the Athens Stock Exchange but has not decided the exact stake to be sold or the sale price, Hellenic said in a statement.

Hellenic Petroleum (HELPE) will be among the first privatization projects the new government intends to advance, but using a different plan this time.

US Ambassador to Greece, Geoffrey Pyatt, on Friday welcomed the new Greek government's plan to tackle bureaucracy and attract direct foreign investment, saying "the time to invest in Greece is now."

Greece's biggest oil refiner, Hellenic Petroleum, reported a 31 percent drop in second-quarter core profit on Thursday, hurt by refining margins which recorded a five-year low.

Yiannis Papathanasiou, Greece's economy and finance minister in the conservative government led by Costas Karamanlis, has been appointed non-executive president of Hellenic Petroleum (ELPE), the country's biggest oil refiner, the government has said.
Meanwhile, it was announced that Andreas Siamisiis, who was until now deputy CEO at the company, will become chief executive officer.

The US Ambassador to Greece Geoffrey Pyatt welcomed on Thursday the signing of a deal between Greece and a three-member consortium comprised of ExxonMobil, Total and Hellenic Petroleum (ELPE) for an offshore license west and southwest of Crete.
Pyatt said the agreement with the Energy Ministry is "an important step forward in Greece's emergence as a major European energy hub."