Hellenic Petroleum and crude oil supplies

Hellenic Petroleum and crude oil supplies

Hellenic Petroleum, Greece’s biggest oil refiner, has clinched an initial deal to get additional crude oil supplies from Saudi Arabia, two sources from the refiner said on Tuesday.

“There has been an initial agreement to increase crude oil quantities that Hellenic Petroleum buys from Saudi Arabia to further secure the smooth supply of the Greek market with fuel,” one of the sources told Reuters.

Saudi Arabia accounted for 8% of Hellenic’s crude oil feedstock last year, its fifth biggest supplier after Kazakhstan, Iraq, Russia and Egypt.

Hellenic Petroleum bought some 2.5 million tons of Russian crude, about 18% of its total crude supplies, last year and has said it could replace it with similar grades mostly from the Middle East if needed.

Moscow is starting to face problems in selling its crude oil and oil products as Western sanctions over Russia’s invasion of Ukraine and voluntary actions by buyers start to bite.


Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.