- CEO
- Yannis V. Vardinoyannis
- Full Time Employees
- 4,381
- Sector
- Energy
- Industry
- Oil & Gas Refining & Marketing
- Address
- 12A Irodou Attikou Street Marousi GI Greece 151 24
- IPO Date
- Dec 30, 2014
- Business
- Motor Oil (Hellas) Corinth Refineries S.A. (MOHCY) operates as Greece's leading integrated oil refining and marketing company, focusing on crude oil refining, petroleum product trading, and energy supply services. Founded in 1970 and headquartered in Marousi, Greece, the company runs a state-of-the-art Corinth refinery with a capacity exceeding 186,000 barrels per day and a Nelson Complexity Index of 12.61, producing a full range of refined products including light ends, gasoline, middle distillates such as diesel and fuel oil, bitumen, paraffin, sulfur, asphalt, and lubricants that meet stringent European, ACEA, API, and international specifications; it also markets and distributes these via over 1,500 gas stations under brands like Avin, Shell, and Cyclon in Greece and eight other countries, supplies aviation fuels at Athens International Airport, trades liquefied petroleum gas and natural gas, and engages in power generation, waste management, real estate, and airport services through more than 100 subsidiaries including NRG Supply and Trading, Coral Oil, LPC, and OFC Aviation Fuel Services. Geographically, Motor Oil supplies markets in Greece, the eastern Mediterranean, and exports to over 75 countries, employing over 3,000 people and maintaining storage capacity of 2.5 million cubic meters supported by a sea terminal for ULCC vessels. In recent developments, the company signed a binding agreement in July 2025 with GEK TERNA to merge electricity and natural gas operations of Heron and NRG into a new UtilityCo with equal stakes, serving 550,000 customers and 1.5 GW capacity, expected to complete by early 2026; partnered with Terna Energy in January 2025 for Greece's first offshore wind farm; inaugurated Europe's first EU co-financed hydrogen refueling station in Agioi Theodoroi in 2025 via Avin Oil; began construction of a 30 MW electrolyser (plus 20 MW ordered) at Corinth for up to 60,000 tonnes of green hydrogen and 25,000 tonnes of e-methanol annually by 2029, backed by a €111.7 million European Commission subsidy in February 2025; and launched biofuel marine fuels with Coral Marine in April 2025 while advancing hydrogen valley projects like Trieres and EPHYRA.