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    Elizabeth Stuart, Queen of Bohemia

    Motor Oil (Hellas)
    Corinth Refineries S.A.
    Native name
    		ΜΟΤΟΡ ΟΪΛ ΕΛΛΑΣ Α.Ε.
    Company typeAnonymi Etairia
    Athex: MOH
    IndustryPetroleum, Gas & energy industry
    Founded1970; 55 years ago (1970)
    FounderNikos Vardinogiannis
    Vardis Vardinogiannis
    Headquarters
    Marousi, Athens
    ,
    Greece
    Area served
    		Southeast Europe, North Africa
    Key people
    		Giannis Vardinogiannis (President)
    Petros Tzannetakis (Chief executive officer)[1]
    ProductsPetroleum refining and transportation in Greece and abroad, energy, other petrochemicals
    ServicesFuel gas stations, oil tankers, airplanes
    Revenue€16.631 billion (2022)[2]
    €2.111 billion (2022)[2]
    €967.2 million (2022)[2]
    Total assets€7.197 billion (2022)[2]
    Total equity€2.138 billion (2022)[2]
    OwnerPetroventure Holdings Limited (40.97%)[3]
    Number of employees
    		1,300 (2019)[4]
    SubsidiariesAvin Oil/Cyclon
    Coral Gas/Shell Hellas
    Ermes
    Korinthos Power
    Mediamax Holdings Limited
    Websitemoh.gr

    Motor Oil (Hellas) Corinth Refineries S.A. (Greek: Μότορ Όιλ (Ελλάς) Διυλιστήρια Κορίνθου Α.Ε.) is a petroleum industry company based in Greece focusing on oil refining and trading. It is a leading force in its sector in Southern Europe and the Mediterranean.[5][6]

    History

    Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinogiannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece.[1] Since 1972 Vardis J. Vardinoyannis has been chairman and managing director.[7] The company has over 2,000 employees.[1] Despite the Greek crisis in 2015, the company had thrived.[8]

    In 2020 Motor Oil Hellas gave TechnipFMC a significant engineering, procurement, and construction 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).[9] The construction work is scheduled to be complete in 2021.

    Refinery, facilities and gas stations

    Through its Korinthos refinery, Motor Oil controls 35% of the refining sector in Greece.[10] The company operates the second-largest refiner (Corinth Refinery) in Europe 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, more than 2,000, along with a host of other gas and energy-related businesses.[11]

    In 2025, Motor Oil Hellas inaugurated Greece’s first hydrogen refuelling station in Agioi Theodoroi, operated by its subsidiary Avin Oil.[12] The station is the first in Europe to be co-financed (50%) by the EU’s Connecting Europe Facility (CEF) – Transport programme, as part of a €3 million investment. The facility currently sources green hydrogen from Austria, with plans to use hydrogen from a nearby 50MW production plant under development by Motor Oil.

    Construction of a 30MW electrolyser has begun at the Korinthos refinery, with an additional 20MW ordered from Sweden-based Metacon in early 2025. The overall project aims to produce up to 60,000 tonnes of hydrogen and 25,000 tonnes of e-methanol annually by 2029. The European Commission approved a €111.7 million subsidy in February 2025 to support the hydrogen development project.[13]

    Subsidiaries and affiliates

    Motor Oil Hellas has numerous subsidiaries, such as:

    • Avin Oil Industrial, Commercial and Maritime Company S.M.S.A.,[14]
    • Coral Oil and Chemicals Company S.A.,[15]
    • Coral Commercial and Industrial Gas Company S.A.,[16]
    • LPC S.M.S.A. Corporation for Processing and Trading of Lubricants and Petroleum Products,[17]
    • NRG Supply and Trading S.M.S.A.,[18]
    • OFC Aviation Fuel Services S.A.,
    • Korinthos Power S.A.,
    • Shell & MOH Aviation Fuels S.A.,
    • Athens Airport Fuel Pipeline Company.

    Ownership

    Motor Oil's majority shareholder is two holding companies (Petroventure and Motor Oil Limited with 40.97%),[3] 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 and the London Stock Exchange.

    See also

    References

    1. ^ a b c "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.
    2. ^ a b c d e "Full Year Financial Reports".
    3. ^ a b "Shareholder Structure".
    4. ^ "Human Resources".
    5. ^ "MOH:Athens Stock Quote - Motor Oil Hellas Corinth Refineries SA". Bloomberg.com. Retrieved 1 August 2018.
    6. ^ "Motor Oil Hellas Corinth Refineries S.A." MarketScreener. Retrieved August 25, 2020.
    7. ^ "Vardis John Vardinoyannis". Bloomberg.com. Retrieved 2015-12-31.
    8. ^ "Motor Oil Hellas Corinth Refineries: Bad Zipcode, Great Asset". MOI Global. January 11, 2017. Retrieved August 19, 2020.
    9. ^ "TechnipFMC Awarded a Significant Contract by Motor Oil Hellas for a New Naphtha Complex in Greece". FinanzNachrichten. January 9, 2020. Retrieved August 21, 2020.
    10. ^ "Regulation (EC) No 139/2004 Merger Procedure" (PDF). Commission of the European Communities. March 30, 2009. Retrieved August 25, 2020.
    11. ^ "Greek company Motor Oil buys out Lukoil petrol stations". in-cyprus.com. Archived from the original on 12 November 2016. Retrieved 13 January 2021.
    12. ^ Martin, Polly (2025-06-11). "Greece's first hydrogen refuelling station opens — with H2 imported from Austria". hydrogeninsight.com. Retrieved 2025-06-16.
    13. ^ H2-View (2025-02-14). "Motor Oil secures €111.7m EU grant for 50MW hydrogen project at Greek refinery". H2 View. Retrieved 2025-06-16.{{cite web}}: CS1 maint: numeric names: authors list (link)
    14. ^ "Avin Oil". Motor Oil Hellas. Retrieved August 25, 2020.
    15. ^ "Coral". Motor Oil Hellas. Retrieved August 25, 2020.
    16. ^ "Coral Gas". Motor Oil Hellas. Retrieved August 25, 2020.
    17. ^ "LPC". Motor Oil Hellas. Retrieved August 25, 2020.
    18. ^ "NRG". Motor Oil Hellas. Retrieved August 25, 2020.
    Credit: Wikipedia https://en.wikipedia.org/wiki/Motor_Oil_Hellas

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