
Helleniq Energy on Thursday reported strong nine-month results on the back of what it called a favorable refining environment, while also unveiling higher operating performance and exports.
HelleniQ cited robust adjusted EBITDA at 400 million euros and adjusted net income of 218 million euros for the third quarter.
Nine-month EBITDA reached 968 million euros; 496 million euros in adjusted net income.
In briefing market analysts on Thursday, HelleniQ CEO Andreas Shiamishis also fielded a question over the group’s potential interest in the large Lukoil refinery in Burgas, on the Black Sea.
The HelleniQ chief merely responded that the group is closely following the development, reminding that the unit in Bulgaria is no longer run by Lukoil, following the Russian invasion of Ukraine. The refinery has passed into the hands of the Bulgarian state.
At the same time, he said the HelleniQ group is committed to reducing its carbon footprint, as cited in its Vision 2025 investment plan, in tandem with boosting investment in RESs and «clean energy».
In a related development, media reports this week again referred to the prospect of revisiting the decades-old Burgas-Alexandroupolis pipeline project. However, in a significant difference from the previous plan, a new pipeline would ship crude oil to Bulgaria after off-loading at the northeast Aegean port of Alexandroupolis, instead of off-loading in Burgas and transporting by pipeline to Alexandroupolis.
Unconfirmed reports cited interest by HelleniQ Energy and the Copelouzos group.


Latest News

Metropolitan Ioannis of Korce New Archbishop of Albania
Following the announcement of the election, church bells rang joyfully in Orthodox churches across Albania

Greece Faces Renewed Fears of Water Crisis Ahead of Summer 2025
Following a prolonged drought that began in 2024, fears of a water crisis highlight the urgent need for infrastructure improvements

Harvard, Yale, Columbia, and More Seek Collaboration with Greek Unis
Greece's former Minister of Education Kyriakos Pierrakakis announces an €82 million funding boost to support the partnerships

Greek Government Reshuffle Brings in More Young Technocrats
Greek PM Mitsotakis has brought in younger leaders and technocrats in a bid to accelerate the government's efforts at modernization and efficiency, according to New Democracy insiders

Greece’s New Government Members Sworn in at Presidential Mansion
Greece's new government members were sworn in on Saturday morning and head straight to work through the first meeting of the new cabinet.

Moody’s Upgrades Greece to Investment Grade, Ending Crisis Era
The rating agency raised Greece’s long-term credit rating to Baa3 from Ba1, with a stable outlook.

EFET on World Consumer Day: Humanity Faces New Challenges
This year’s message emphasizes the need for a transition to sustainable lifestyles while safeguarding consumers’ legally recognized rights. This means ensuring access to essential goods such as food and energy, as well as health and safety.

Athens Hotels Lead Europe in Value Growth for Third Year
Over the entire period from 2015 to 2024, the average annual increase in hotel value was 6.1%.

Unemployment Rate in Greece Down 8.9% in January: IOBE
The unemployment rate in Greece recorded a further decline in January 2025, reaching 8.9%, according to the latest Foundation for Economic & Industrial Research (IOBE) report.

Demand for Short Term Rentals in Greece Surges Ahead of Easter
Among the most popular Easter destinations from Good Friday to Easter Monday are Corfu, Hydra, the Peloponnese, Ioannina, Patmos, Loutra Edipsou, Kavala, Thassos, and Pelion