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.
Energy agreements due on Friday
A series of eagerly anticipated agreement conclusions in the energy sector are expected to take place in Athens and Milan on Friday.
- Read more about Energy agreements due on Friday
- Log in to post comments
Greece shortlists Glencore, Vitol in Hellenic Petroleum majority stake sale
Greece has shortlisted Anglo-Swiss Glencore and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum, its privatization agency said on Wednesday.
Two trading firms make 2nd round of HELPE tender
As expected, international traders Glencore and Vitol were short-listed on Tuesday in the tender for the 50.1 percent stake in Hellenic Petroleum (HELPE) after three other bidders were dropped from the second stage.
- Read more about Two trading firms make 2nd round of HELPE tender
- Log in to post comments
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.
- Read more about Tsotsoros takes over at Hellenic Petroleum
- Log in to post comments
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.
- Read more about Tsotsoros the new CEO at Hellenic Petroleum
- Log in to post comments
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.
- Read more about ELPE profit slides in Q4 2017
- Log in to post comments