Motor Oil Hellas

Motor Oil (Hellas), Corinth Refineries S.A. (Greek: Μότορ Όιλ (Ελλάς) Διυλιστήρια Κορίνθου Α.Ε.) is a petroleum company based in Greece focusing on petroleum refining and trading. It is a leading force in its sector in Southern Europe and the Mediterranean.[6]

Group of companies Motor Oil (Hellas) Corinth Refineries S.A.
Όμιλος εταιρειών Μότορ Όιλ (Ελλάς) Διυλιστήρια Κορίνθου Α.Ε.
Native name
ΜΟΤΟΡ ΟΪΛ ΕΛΛΑΣ Α.Ε.
TypeAnonymi Etairia
Athex: MOH
IndustryPetroleum, Gas & energy industry
Founded1970
FounderNikos Vardinogiannis
Vardis Vardinogiannis
Headquarters
Athens, Marousi
,
Greece
Area served
SE Europe, Northern Africa
Key people
Vardis Vardinogiannis[1] (President)
Giannis Vardinogiannis (V. President)
Petros Tzannetakis (CEO)[2]
ProductsPetroleum refining and transportation in Greece and abroad, energy, other petrochemicals
ServicesFuel gas stations, oil tankers, planes
Revenue€7.843 billion (2017)[3]
€899.50 million (2017)[4]
€313.55 million (2017)[3]
Total assets€2.895 billion (2017)[3]
Total equity€1.018 billion (2017)[3]
OwnerMotor Oil Holdings S.A. (47.4%)[5]
Number of employees
approx 15.000 (2017)
SubsidiariesAvin Oil
Cyclon Hellas
Coral Gas
Korinthos Power
Ermes
Websitewww.moh.gr Archived 2001-09-24 at the Wayback Machine</ref>

History

Motor Oil Hellas was founded on May 7, 1970 by Vardis Vardinoyannis and Georgios Paraschos Aleksandridis. It's headquartered in Marousi, Greece.[7] Since 1972 Vardis J. Vardinoyannis serves as chairman and managing director.[8] The company has over 2,000 employees.[7] Despite the Greek crisis in 2015, the company had thrived.[9]

In 2020 Motor Oil Hellas gave TechnipFMC a significant Engineering, procurement, and construction (EPCM) management services. The new naphtha complex in Greek will have three new process units and a capacity of 22,000 barrels per day (3,500 m3/d).[10] The construction work will be finishing in 2021.[11]

Refinery, facilities and gas stations

Through its Korinthos refinery, Motor Oil Hellas controls the remaining 35% of the refining sector in Greece.[12] The company operates the second-largest refiner (Corinth Refinery) in Europe based in Corinth, Greece,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 which are more than 2,000 along with a host of other gas and energy-related businesses.[13]

Subsidiaries and affiliates

Motor Oil Hellas has numerous subsidiares such as Avin Oil S.A, Coral S.A.,[14] Coral Gas A.E.B.E.Y., LPC S.A., NRG Traiding House S.A.,[15] OFC Aviation Fuel Services S.A., Korinthos Power S.A, Cyclon Hellas S.A, Shell & MOH Aviation Fuels A.E., Athens Airport Fuel Pipeline Company and nrg trading house.

Ownership

Motor Oil's majority shareholder is Motor Oil Holdings S.A. (47.4%), a holding company 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 Stock Exchange and the London Stock Exchange.

See also

References
  1. "List of Public Companies Worldwide, Letter - Businessweek - Businessweek". Bloomberg.com. Retrieved 2015-12-31.
  2. "MOH.GR Company Profile & Executives - Motor Oil Hellas Corinth Refineries S.A. - Wall Street Journal". Quotes.wsj.com. 2014-12-31. Retrieved 2015-12-31.
  3. "Motor Oil: Στα 315,1 εκατ. τα κέρδη του 2017 – Αύξηση εσόδων και κερδών - NEWS - Fortunegreece.com". 13 March 2018. Retrieved 1 August 2018.
  4. "Motor Oil: Σημαντική αύξηση κερδών το 2017". Retrieved 1 August 2018.
  5. "MOTOR OIL HELLAS CORINTH REFINERIES S.A. : Shareholders Board Members Managers and Company Profile | GRS426003000 | MarketScreener". www.marketscreener.com. Retrieved 13 January 2021.
  6. "MOH:Athens Stock Quote - Motor Oil Hellas Corinth Refineries SA". Bloomberg.com. Retrieved 1 August 2018.
  7. "Company Info Motor Oil Hellas Corinth Refineries". Wall Street Journal. Retrieved August 19, 2020.
  8. "Vardis John Vardinoyannis". Bloomberg. Retrieved August 19, 2020.
  9. "Motor Oil Hellas Corinth Refineries: Bad Zipcode, Great Asset". MOI Global. January 11, 2017. Retrieved August 19, 2020.
  10. "TechnipFMC Awarded a Significant Contract by Motor Oil Hellas for a New Naphtha Complex in Greece". FinanzNachrichten. January 9, 2020. Retrieved August 21, 2020.
  11. "Griechenland: Motor Oil Hellas baut neuen Naphtha-Behandlungskomplex". Wirtschaftskammer Österreich. Retrieved August 21, 2020.
  12. "REGULATION (EC) No 139/2004 MERGER PROCEDURE" (PDF). Commission of the European Communities. March 30, 2009. Retrieved August 25, 2020.
  13. "Greek company Motor Oil buys out Lukoil petrol stations". in-cyprus.com. Retrieved 13 January 2021.
  14. "Motor Oil Hellas Corinth Refineries S.A." MarketScreener. Retrieved August 25, 2020.
  15. "Coral". Motor Oil Hellas. Retrieved August 25, 2020.
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