Hellenic Petroleum

Hellenic Petroleum sees stronger Q3 as refining margins rise

Greece's biggest oil refiner Hellenic Petroleum expects stronger financial results in the third quarter thanks to higher refining margins, it said on Thursday.

Hellenic, which runs three refineries and exports more than half its output, reported an 18 percent drop in second-quarter core profit.

Hellenic Petroleum workers battling selloff block suitors from refineries

Workers at Hellenic Petroleum on Monday physically prevented suitors eyeing a majority stake in Greece's biggest oil refiner from entering two of its sites in protest at plans to privatize the utility, a union spokesman said.

While privatizations have been a key part of successive bailout agreements Greece has struck since 2010, they have been met with strong political resistance.

Glencore, Vitol Holding continue in second phase of HELPE sale

Greece's privatization agency (TAIPED) disqualified on Tuesday three out of the five investment groups which had expressed interest in acquiring a majority stake in Greek refiner Hellenic Petroleum (HELPE), leaving Glencore Energy UK and Vitol Holding B.V. in the second round of the tender.

Tsotsoros takes over at Hellenic Petroleum

Efstathios Tsotsoros, chairman of Hellenic Petroleum, has taken on the additional position of chief executive, the company said in a bourse filing on Tuesday.

Tsotsoros's appointment was proposed by the Greek state last week and approved at a board meeting on Tuesday. Grigoris Stergioulis steps down after three years at the helm.

Tsotsoros the new CEO at Hellenic Petroleum

Hellenic Petroleum (ELPE) Greece's biggest oil refiner, said on Thursday that the Greek government had proposed that its chairman Efstathios Tsotsoros also take on the position of chief executive, replacing Grigoris Stergioulis.

ELPE announced the decision in a bourse filing outlining a new board of directors, scheduled to convene next Tuesday.

Tsotsoros to assume executive powers at Hellenic Petroleum

Hellenic Petroleum chairman Efstathios Tsotsoros will also assume the duties of chief executive officer next week, replacing Grigoris Stergioulis when the new governing board convenes, although the stakeholders' agreement between state sell-off fund TAIPED and the Latsis Group's Paneuropean Oil and Industrial Holdings on Tuesday foresaw board changes coming 10 working days after the signing of

ELPE profit slides in Q4 2017

Hellenic Petroleum (ELPE), Greece's biggest oil refiner, on Thursday reported a 21 percent drop in fourth-quarter core profit due to weaker refining margins.

The refiner said earnings before interest, tax, depreciation and amortization (EBITDA), adjusted for oil inventory holdings, came in at 170 million euros, down from 215 million euros in the same period a year earlier.

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