Hellenic Petroleum to stay in Serbia and expand its operations

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The Greek oil company Hellenic Petroleum will not be leaving Serbia, but will start expanding operations in the country – said the CEO of Hellenic Petroleum Group, Grigoris Stergioulis.

Hellenic Petroleum came to Serbia 15 years ago when it opened its first EKO petrol station.

“Energy is not only oil. It is also electricity, gas and renewable resources. Hence, in an effort to continue transforming, Hellenic will engage in production of electricity and gas. We have enough sunshine and wind, and our plan is to start investing in clean energy. We have already secured funding from the European Bank for Reconstruction and Development, and we have available technology”, Stergioulis explains.

Hellenic Petroleum wants to be the first company here to start branching out into other energy segments. This is not only their wish, but also the wish of the governments of the countries in which the company plans to branch out. This was also confirmed after a two-day-energy conference about oil processing, storage and market in Southeast Europe which was organized by the Energy Institute from Thessaloniki.

When asked whether the company was satisfied with its operations in Serbia, and how much fuel does Greece export to Serbia, Director of Hellenic Petroleum Serbia, Vuk Radovic says that there is plenty of room for Hellenic Petroleum to occupy an even better marketing position.

“Serbia needs 400,000 additional tonnes of diesel. Petroleum Industry of Serbia (NIS) produces around 1.1 million tonnes, while the domicile market needs at least 1.5 million. This is where we can come in because we produce fuel that is of top European quality. If the Thessaloniki-Skopje oil pipeline becomes operational, the costs of transporting fuel to Serbia would be lower which would benefit the end users”, Radovic says. At the moment, Hellenic has a 7% share in the Serbian market.

(Politika, 08.04.2017)


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