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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Hellenic Petroleum posts 18% rise in 2017 bunker sales

Greek refiner says it sold 2.8 million tonnes of marine fuel last year.



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Updated on 07 Mar 2018 13:43 GMT

Hellenic Petroleum (HELPE) reports that it saw an increase in bunker sales demand in 2017.

Between January and December, the Greek oil company says marine fuel sales volume rose by 18 percent to 2.8 million tonnes in comparison with the previous year.

Combined 2017 sales from bunkering and aviation amounted to EUR 1,098.8 million - an increase of EUR 301.0 million, or 37.7 percent, on the EUR 797.8 million sales figure achieved in 2016.

With total group net sales of EUR 7,994.7 million in 2017 (up 1,381.4 million, or 20.9 percent, compared to 2016), revenue from marine fuels and aviation amounted to 13.7 percent of overall sales, compared to 12.1 percent the previous year (when total revenue was EUR 6,613.3 million).

Net income after tax in 2017 increased year-on-year (YoY) by EUR 55.2 million, or 16.8 percent, to EUR 383.9 million, whilst fourth quarter (Q4) net income fell EUR 34 million, or 24 percent, to EUR 111 million.

Refining sales volume was up 4 percent in 2017 to 16.1 million tonnes, whilst production came in at 15 million tonnes, up 1 percent YoY.

Refining sales volume in Q4 was higher by 7 percent at 4.1 million tonnes. Production during the same three-month period increased by 5 percent to 3.9 million tonnes. This was said to be due to the "smooth operation of the refineries".

HELPE operates three refineries in Greece: in Aspropyrgos, Elefsina and Thessaloniki. The 148,000-barrel-per day (bbl/d) Aspropyrgos plant is HELPE's largest, whilst Elefsina and Thessaloniki produce 100,000 bbl/d and 93,000 bbl/d respectively. Together, they cover approximately 65 percent of Greece's total refining capacity.

All three facilities offer a full range of high-sulphur and low-sulphur marine fuels and distillates.






Related Links:

Greek bunker-producing refinery to be closed until September
Hellenic Petroleum reports rise in bunker sales demand
Greece

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