New CEO ANDREAS SHIAMISHIS: "Emphasis on Safety, Corporate Structure and Governance, Competitiveness improvement and Growth”

Mr. Andreas Shiamishis, CEO of HELLENIC PETROLEUM, commented on 2Q19 results: “During 2Q, the Group demonstrated its ability to maintain strong results and cash flows, even in less favorable international refining environment; a proof-of-concept for the strategy to invest in core business with refinery upgrades, competitiveness improvement, as well as product and markets differentiation.

We are already experiencing better market conditions post the end of the second quarter and this is expected to further support an improved full year outlook for the Group compared to now.

The key priorities of the new management will be safety in operations, improving its competitive position, an overhaul of its Group structure and governance and to accelerate material growth in new markets.  On that front, options in core activities and markets, as well as in new ones such as RES and natural gas will be fully evaluated, taking into account not only the current Group position but also trends with respect to environmental considerations and its implication for future of energy market. Finally, I would like to reiterate my thanks to the management and personnel of the Group, who have a key contribution in making HELLENIC PETROLEUM one of the leading downstream companies in SE Europe with positive social and local economy footprint.”.