Hellenic Petroleum

The agreement for the purchase of the Prinos oil field reserves was signed on Monday afternoon at the Greek Ministry of Environment, Energy and Climate Change, between Energean Oil, the Greek company exploiting the reserves and British multinational BP Oil...

In an attempt to reduce its legacy costs OTE, the largest telecommunication company in Greece announced its intent to downsize its workforce in the fixed-line business. Chief Executive Michael Tsamaz said that 1,100 people, that is 13% of the fixed-line...

Yesterday, Eurobank the third-biggest lender to Greece announced that it will shed about a tenth of its workforce through voluntary redundancy. This measure is taken in order to make it fit for privatization. Eurobank is among the four Greek banks...

Greece, with no domestic production, needs oil imports from Russia, an amount that covers about 70% of the domestic oil market an overwhelming proportion, after Iran has cut off supplies. In 2012, according to Imerisia, 43.7% of crude oil supplied...

Petroceltic International Plc (PCI), an oil and gas company with operations in Egypt and eastern Europe, plans to explore for oil in Greece. The company has made an application in the country for onshore and offshore blocks with Hellenic Petroleum...

After much prodding from international lenders to push the pace of privatization to raise critical cash, Greece’s Hellenic Republic Asset Development Fund (HRADF) has produced a list of 40 uninhabited islands and islets that could be leased for as...

According to Iranian state television on April 5th, Iran has stopped oil sales to two Greek refineries, Hellenic Petroleum and Motor Oil Hellas after failure of the two companies to make the required payments. Greece's major refineries Hellenic Petroleum and...

ATHENS – As Greece struggles to save its economy by cutting workers’ pay to the bone, raising taxes to the limit, slashing pensions and preparing for the firing of 150,000 workers, a big revenue-raiser – privatizing state-owned entities and...

ISTANBUL – Desperate to find buyers of its assets and holdings to satisfy international lenders, Greece is turning to its neighbor and often-time enemy Turkey to find investors amid fears of a bargain basement fire sale that will bring...

ATHENS – Already deep in the throes of an economic crisis, Greece is moving quickly to fend off shortages of oil that will be created by an embargo from Iran on European countries by trying to get more capacity...