Motor Oil Hellas
Greek petroleum industry company From Wikipedia, the free encyclopedia
Motor Oil (Hellas) Corinth Refineries S.A. (Greek: Μότορ Όιλ (Ελλάς) Διυλιστήρια Κορίνθου Α.Ε.) 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.[5][6]
 | |
Native name | ΜΟΤΟΡ ΟΪΛ ΕΛΛΑΣ Α.Ε. |
|---|---|
| Company type | Anonymi Etairia |
| Athex: MOH | |
| Industry | Petroleum, Gas & energy industry |
| Founded | 1970 |
| Founder | Nikos Vardinogiannis Vardis Vardinogiannis |
| Headquarters | Marousi, Athens , Greece |
Area served | Southeast Europe, North Africa |
Key people | Giannis Vardinogiannis (President) Petros Tzannetakis (Chief executive officer)[1] |
| Products | Petroleum refining and transportation in Greece and abroad, energy, other petrochemicals |
| Services | Fuel gas stations, oil tankers, airplanes |
| Revenue | €16.631 billion (2022)[2] |
| €2.111 billion (2022)[2] | |
| €967.2 million (2022)[2] | |
| Total assets | €7.197 billion (2022)[2] |
| Total equity | €2.138 billion (2022)[2] |
| Owner | Petroventure Holdings Limited (40.97%)[3] |
Number of employees | 1,300 (2019)[4] |
| Subsidiaries | Avin Oil/Cyclon Coral Gas/Shell Hellas Ermes Korinthos Power Mediamax Holdings Limited |
| Website | moh.gr |
History
Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinogiannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece.[1] Since 1972 Vardis J. Vardinoyannis has been chairman and managing director.[7] The company has over 2,000 employees.[1] Despite the Greek crisis in 2015, the company had thrived.[8]
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 22,000 barrels per day (3,500 m3/d).[9] 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.[10] 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.[11]
Subsidiaries and affiliates
Motor Oil Hellas has numerous subsidiaries, such as:
- Avin Oil Industrial, Commercial and Maritime Company S.M.S.A.,[12]
- Coral Oil and Chemicals Company S.A.,[13]
- Coral Commercial and Industrial Gas Company S.A.,[14]
- LPC S.M.S.A. Corporation for Processing and Trading of Lubricants and Petroleum Products,[15]
- NRG Supply and Trading S.M.S.A.,[16]
- 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%),[3] 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
References
External links
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