Motor Oil Hellas

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Motor Oil (Hellas)
Corinth Refineries S.A.
Native name
ΜΟΤΟΡ ΟΪΛ ΕΛΛΑΣ Α.Ε.
TypeAnonymi Etairia
Athex: MOH
IndustryPetroleum, Gas & energy industry
Founded1970; 52 years ago (1970)
FounderNikos Vardinogiannis
Vardis Vardinogiannis
Headquarters
Athens
,
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€6.120 billion (2020)[3]
€353.45 million (2020)[4]
€112.32 million (2020)[5]
Total assets€3.409 billion (2020)[6]
Total equity€984.90 million (2020)[7]
OwnerMotor Oil Holdings S.A. (40.36%)
Doson Investments Company (5.47%)[8]
Number of employees
1.300 (2019)[9]
SubsidiariesAvin Oil
Cyclon Hellas
Coral Gas
Korinthos Power
Ermes
Websitemoh.gr

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.[10]

History[]

Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinoyannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece.[11] Since 1972 Vardis J. Vardinoyannis serves as chairman and managing director.[12] The company has over 2,000 employees.[11] Despite the Greek crisis in 2015, the company had thrived.[13]

In 2020 Motor Oil Hellas gave TechnipFMC a significant engineering, procurement and construction (EPCM) 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).[14] The construction work is scheduled to be complete in 2021.[15]

Refinery, facilities and gas stations[]

Through its Korinthos refinery, Motor Oil Hellas controls the remaining 35% of the refining sector in Greece.[16] 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 , 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.[17]

Subsidiaries and affiliates[]

Motor Oil Hellas has numerous subsidiares such as Avin Oil S.A, Coral S.A.,[18] Coral Gas A.E.B.E.Y., LPC S.A., NRG Traiding House S.A.,[19] 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. (40.36%), 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. ^ "Ετήσιες Οικονομικές Εκθέσεις".
  4. ^ "Ετήσιες Οικονομικές Εκθέσεις".
  5. ^ "Ετήσιες Οικονομικές Εκθέσεις".
  6. ^ "Ετήσιες Οικονομικές Εκθέσεις".
  7. ^ "Ετήσιες Οικονομικές Εκθέσεις".
  8. ^ "Shareholder Structure".
  9. ^ "Ανθρώπινο Δυναμικό".
  10. ^ "MOH:Athens Stock Quote - Motor Oil Hellas Corinth Refineries SA". Bloomberg.com. Retrieved 1 August 2018.
  11. ^ a b "Company Info Motor Oil Hellas Corinth Refineries". Wall Street Journal. Retrieved August 19, 2020.
  12. ^ "Vardis John Vardinoyannis". Bloomberg. Retrieved August 19, 2020.
  13. ^ "Motor Oil Hellas Corinth Refineries: Bad Zipcode, Great Asset". MOI Global. January 11, 2017. Retrieved August 19, 2020.
  14. ^ "TechnipFMC Awarded a Significant Contract by Motor Oil Hellas for a New Naphtha Complex in Greece". FinanzNachrichten. January 9, 2020. Retrieved August 21, 2020.
  15. ^ "Griechenland: Motor Oil Hellas baut neuen Naphtha-Behandlungskomplex". Wirtschaftskammer Österreich. Retrieved August 21, 2020.
  16. ^ "Regulation (EC) No 139/2004 Merger Procedure" (PDF). Commission of the European Communities. March 30, 2009. Retrieved August 25, 2020.
  17. ^ "Greek company Motor Oil buys out Lukoil petrol stations". in-cyprus.com. Retrieved 13 January 2021.
  18. ^ "Motor Oil Hellas Corinth Refineries S.A." MarketScreener. Retrieved August 25, 2020.
  19. ^ "Coral". Motor Oil Hellas. Retrieved August 25, 2020.

External links[]

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