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Hellenic Petroleum refining and oil products summary

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10 November 2016

Hellenic Petroleum refining and oil products summary

Report summary

Hellenic Petroleum maintains its position as the dominant player in Greece's downstream oil sector, largely through its control of three of the country's four oil refineries and an established fuel retail network. Elefsis refinery achieves some of the strongest refining margins in the Mediterranean region following its upgrade in 2012. Hellenic Petroleum has continued to rationalise its retail network in the context of a shrinking Greek market, while pursuing the integration of its two separate fuels marketing subsidiaries EKO and Hellenic Fuels sector. Although Hellenic Petroleum benefited from exceptionally strong European refining margins in 2015, its growing surplus remains a longer term concern, given increased competition from advantaged international refiners.  

Table of contents

    • SWOT analysis
    • Strategy
      • National refining champion, but exposed to weak domestic demand and poor refining margins
      • Upgraded refining portfolio to optimise overall operations and generate cash
      • Consolidation of domestic fuels marketing coupled with targeted international expansion
  • Financials
    • European refining and marketing operations
    • Refining
    • Fuels marketing
    • Supply/demand
    • Implications and outlook
  • Mergers and acquisitions

Tables and charts

This report includes 9 images and tables including:

  • Adjusted EBITDA by business
  • Capex by business segment
  • Mergers and acquisitions: Table 1
  • Executive summary: Table 1
  • Portfolio summary: Image 1
  • Refinery capacity by country (kb/sd) at end-2015
  • Services stations by country at end-2015
  • Total company position
  • Refining and oil products: Table 1

What's included

This report contains:

  • Document

    Hellenic Petroleum refining and oil products summary

    PDF 831.85 KB

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