Motor Oil Hellas

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Template:Short description Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters".

Motor Oil (Hellas) Corinth Refineries S.A. (Template:Langx) is a petroleum industry company based in Greece focusing on oil refining and trading. It is a leading force in its sector in Southern Europe and the Mediterranean.[1][2]

History

Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinogiannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece.[3] Since 1972 Vardis J. Vardinoyannis has been chairman and managing director.[4] The company has over 2,000 employees.[3] Despite the Greek crisis in 2015, the company had thrived.[5]

In 2020 Motor Oil Hellas gave TechnipFMC a significant engineering, procurement, and construction management services contract. The new naphtha complex in Greece will have three new processing units and a capacity of Script error: No such module "convert"..[6] The construction work is scheduled to be complete in 2021.

Refinery, facilities and gas stations

Through its Korinthos refinery, Motor Oil controls 35% of the refining sector in Greece.[7] The company operates the second-largest refiner (Corinth Refinery) in Europe and the Cairo-based oil and gas exploration and production facilities in Egypt. It also owns the Avin, Shell and Cyclon chain of fuel stations in Greece, more than 2,000, along with a host of other gas and energy-related businesses.[8]

In 2025, Motor Oil Hellas inaugurated Greece’s first hydrogen refuelling station in Agioi Theodoroi, operated by its subsidiary Avin Oil.[9] The station is the first in Europe to be co-financed (50%) by the EU’s Connecting Europe Facility (CEF) – Transport programme, as part of a €3 million investment. The facility currently sources green hydrogen from Austria, with plans to use hydrogen from a nearby 50MW production plant under development by Motor Oil.

Construction of a 30MW electrolyser has begun at the Korinthos refinery, with an additional 20MW ordered from Sweden-based Metacon in early 2025. The overall project aims to produce up to 60,000 tonnes of hydrogen and 25,000 tonnes of e-methanol annually by 2029. The European Commission approved a €111.7 million subsidy in February 2025 to support the hydrogen development project.[10]

Subsidiaries and affiliates

Motor Oil Hellas has numerous subsidiaries, such as:

  • Avin Oil Industrial, Commercial and Maritime Company S.M.S.A.,[11]
  • Coral Oil and Chemicals Company S.A.,[12]
  • Coral Commercial and Industrial Gas Company S.A.,[13]
  • LPC S.M.S.A. Corporation for Processing and Trading of Lubricants and Petroleum Products,[14]
  • NRG Supply and Trading S.M.S.A.,[15]
  • OFC Aviation Fuel Services S.A.,
  • Korinthos Power S.A.,
  • Shell & MOH Aviation Fuels S.A.,
  • Athens Airport Fuel Pipeline Company.

Ownership

Motor Oil's majority shareholder is two holding companies (Petroventure and Motor Oil Limited with 40.97%),[16] that belongs to the prominent Greek family of Vardinogiannis, the rest of its shares are available to the public through a float on the Athens and the London Stock Exchange.

See also

Script error: No such module "Portal".

References

<templatestyles src="Reflist/styles.css" />

  1. ↑ Script error: No such module "citation/CS1".
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ a b Cite error: Script error: No such module "Namespace detect".Script error: No such module "Namespace detect".
  4. ↑ Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Cite error: Script error: No such module "Namespace detect".Script error: No such module "Namespace detect".

Script error: No such module "Check for unknown parameters".

External links

Template:Athex 20 companies

Retrieved from "http://debianws.lexgopc.com/wiki143/index.php?title=Motor_Oil_Hellas&oldid=7095483"