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The Group's operating profitability, production and total sales recorded new historical highs. Adjusted EBITDA reached €834 million.
The successful enforcement of the Group is reflected on its ranking amongst the 2017 TOP 100 GLOBAL ENERGY LEADERS, according to Reuters Thomson.
The Group’s International Activities have strong profitability due to increase in sales and improved margins.
HELLENIC PETROLEUM Group is now the largest exporter of products in the South Eastern Mediterranean, while the Aspropyrgos refinery's FCC unit is among the top two in the world, according to an international study conducted by Solomon.
In 2016 a new five-year bond of € 375 million is issued.
HELLENIC PETROLEUM has been awarded exploration and exploitation rights in two onshore areas, namely "Arta - Preveza" and the "Northwest Peloponnese". In addition, the consortium comprised of Total 50% (Operator), Edison (25%) and HELPE (25%) hold the exploration and exploitation rights for offshore Region 2, West of Corfu.
The joint-venture HELLENIC PETROLEUM, TOTAL and EXXONMOBIL has been declared a Preferred Contractor by the Ministry of Environment & Energy for the exploration for and exploitation of hydrocarbons Offshore West Crete and Southwest Crete.
The acquisition of BP’s Ground Fuels business activities in Greece, further enhances the Group’s position in the domestic retail market. The deal includes BP’s nationwide network of branded service stations, storage facilities, as well as the commercial and industrial supply business.
The construction of new units at Thessaloniki refinery is completed.
HELLENIC PETROLEUM SA, aiming at diversifying technical and investment risks, decides to divest part of its rights in West Obayed, at the Western desert region in Egypt, to VEGAS OIL & GAS S.A. The objective of the consortium (VEGAS 70% - 30% of HELPE) is to continue the exploration programme in the area.
A second CCGT 420 MW Power Plant in Thisvi comes into operation by ELPEDISON POWER. This investment significantly strengthens the System of Southern Greece with reliable and environmentally friendly power.
Exit from the Georgian market, by the divestment of HELLENIC PETROLEUM Georgia Ltd, in the frame of restructuring the Group’s strategy.
The Elefsina refinery upgrade project, the largest private industrial investment in Greece, is completed. The new refinery significantly boosts the Group’s profitability, while offering multiple benefits to the environment, the employment and the national economy.
Successful completion of an unrated Eurobond issuance amounted to €500 million, the first in the Group’s history, confirming the confidence of international capital markets towards the Group’s outlook and strategy.
Successful completion of Elefsina Refinery’s operational optimization process and further strengthening of the Group's export orientation with international sales amounting to 50% of total. Strengthening of the Group's presence in international capital markets, by issuing two Eurobonds of a total amount in excess of €600 million.
After the merger of its subsidiaries DEP is renamed HELLENIC PETROLEUM S.A.(HELPE) and is listed in the Athens and London Stock Exchanges.
During the next years, HELPE Group establishes and acquires subsidiaries, such us ELPET- BALKANIKI SA, through which the OKTA refinery is embedded, HELLENIC PETROLEUM POSEIDON M.C., GLOBAL Albania, Hellenic Petroleum Cyprus, EKO Serbia AD, Jugopetrol AD Kotor and EKO Bulgaria, for the expansion of the Group’s commercial activities in Albania, Cyprus, Serbia, Montenegro and Bulgaria respectively.
PETROLA HELLAS is merged to HELLENIC PETROLEUM, therefore the Group acquires the Elefsina refinery. During the next years more subsidiaries are established like, THESSALONIKI POWER, through which the Group becomes active in the power generation production and trading, with the construction and operation of a CCGT 390MW plant in Thessaloniki, HELLENIC PETROLEUM - APOLLO M.C. and HELPE RENEWABLES S.A., with the purpose of producing, distributing and trading renewable energy sources.
A consortium is formed with WOODSIDE ENERGY of Australia (45%) and REPSOL of Spain (35%) for oil & gas exploration and production in regions of Libya.
An important step for the Group’s further strengthening in the power generation production and trading sector, is the strategic agreement with Italy’s EDISON, through which a 50/50 joint venture, named ELPEDISON BV is formed.
In the Oil & Gas Exploration and Production sector, two concession agreements are signed in Egypt, for the regions of West Obayed and Mesaha.
A significant agreement is concluded between HELLENIC PETROLEUM SA and INEOS CHLORVINYLS, one of the largest companies for the production of chlor-alkaline products, for distributing resins in Greece.
The rights for the exploration and production in Libya are transferred to the French-Belgian energy group GDF Suez.
100% of Opet Aygaz Bulgaria EAD in Bulgaria is acquired, thus enhancing the development of the Group's marketing portfolio in South-Eastern Europe.
The domestic oil market is deregulated and DEP undertakes operations in refining and supply on its own account through the ELDA and EKO refineries. DEP acquires the EKO Group’s shares. EKO Retail, in partnership with third parties, sets up EKO GEORGIA and EKOLINA.
ELDA-E develops its share in the domestic market. DEP and ELDA participate in the establishment of VPI, a polyethylene resin production facility in Volos. DEP-EKY concludes concession agreements in Western Greece, participating in the TRITON and ENTERPRISE consortia.
The State acquires the ESSO group of companies which is renamed EKO. The DEP-EKY company is founded to exercise the rights of the Greek State in hydrocarbon exploration and production. The PUBLIC GAS CORPORATION (DEPA) is founded. DEP undertakes, on behalf of the State, operations in refining and in the supply of refined products in the domestic market and acquires the shares of ELDA and DEPA.
ELDA establishes, originally with Foster Wheeler Italiana S.r.l., an engineering studies company named ASPROFOS, and the retailing company ELDA-E. The EKO Retail company establishes EKOTA KO S.A.
The PUBLIC PETROLEUM CORPORATION S.A. (DEP) is established and acquires the HELLENIC ASPROPYRGOS REFINERIES S.A. (ELDA). The State exercises full control over refining, distribution and retailing of refined products. Latsis group inaugurates, through PETROLA HELLAS, the Elefsina refinery.
In 1955, according to government’s decision, the contract for the construction of the Aspropyrgos refinery, the first oil refinery in Greece, is signed. The construction started in 1956 and two years later, in 1958 the new refinery is inaugurated.
Eight years later, in 1966, the Greek-American Tom Pappas inaugurates the ESSO PAPPAS refinery at West Thessaloniki.