Motor Oil Hellas Corinth Refineries SA is a Greek company that specialises in oil refining and oil products trading. The company is located near Athens. Founded in 1972, it entered the petroleum industry during heavy governmental regulation. After just 15 years, the company expanded their operations considerably. That drew the attention of Saudi Aramco, which purchased 50 per cent of the company’s shares in 1996. Since then, the company’s success has increased exponentially. As of 2018, their sales reached record levels for 11 consecutive years at 14.5 million MT.
The company’s refined oil products are produced in Greece and sold there and abroad. The company’s refinery and its ancillary plants are the largest entirely privately held complex in Greece. Their production is considered to be one of the most advanced in Europe. The company also serves as the only producer and packager of lubricants in Greece. The company seeks to become the leader of oil refining and marketing for the entire region. Hellas may yet rise to those levels with notable partnerships. They signed a deal with Russian giant Rosneft which they predict will increase annual oil production by an additional 7.5 million tonnes.
- Family name: Vardinoyannis family
- Sector: Oil & Gas
- Founded: 1970
- Founder: Vardis Vardinogiannis and his brother Yiorgos
- Country: Greece
- Company headquarters: Greece
- Revenue: 7.7
- Employees: 2,008
- Website: moh.gr
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