The Group
In the Group level, Motor Oil has a significant presence in trade due to the liquid fuel retail networks of its subsidiaries AVIN OIL and Coral (Shell Licensee). In 2017, Coral entered Cyprus’ retail market through its subsidiary Coral Energy Products Cyprus Limited and in 2018 the Serbian market through its subsidiary Coral SRB d.o.o Beograd. In Coral entered the markets of Croatia and Northern Macedonia.
The Group enjoys a presence in the liquefied gas sector through Coral Gas S.A. The company stores, packages and markets bottled and bulk liquefied gas and liquefied gas for vehicles (autogas). In 2017, the company established a subsidiary in Cyprus intending to expand its activities abroad.
Additionally, the Group has a presence in the power and natural gas market thought its subsidiary NRG TRADING HOUSE ENERGY S.A. NRG offers electricity and natural gas programs, and primarily aims to provide comprehensive services to home and commercial consumers through top-level services that meet all energy needs. The Group continues to invest in e-mobility developing strategic partnerships and continuously equipping its gas stations with charging points. In fact, 1,000 electric vehicle charging points and installation of fast chargers are already operating. By 2030, the target is to reach 4,000 charging points.
The Group has developed a significant portfolio of renewable energy projects. MORE is an important pillar for the Group's green transition.
MORE operates a modern portfolio of 837 MW installed capacity, 94% of which is wind-based generation units. The Company licensed more than 450 MW of new projects with environmental permits and received final grid connection terms for 287MW.
Over the next 4 years, it is expected to be constructed 311MW of new operating capacity attributed to MORE in projects that are ready to build or have already secured final grid connection.
Additionally, MORE has already secured Environmental Licenses for 895MW attributed capacity, which is currently considered mature. Finally, we hold production licenses for less mature projects exceeding 1GW capacity.
In the context of energy transition, Motor Oil Group is constantly investing in circular economy and renewable and alternative fuels that will ensure a sustainable future. In the last two years significant investments have been made in these two areas. Indicatively, the joint venture with PPC to produce green hydrogen, the construction, in cooperation with GEK TERNA, of the Combined Cycle Gas Turbine (CCGT) power plant fueled with natural gas in Komotini.
In the lubricants sector, the Group is represented by its subsidiary, LPC S.A. LPC is active in the industrial production of basic lubricants, the production, and trade of packaged lubricants and the sale of paraffin. The company exports its products to more than 55 countries and is the agent for internationally known VALVOLINE lubricants in Greece.
To this direction the Group acquired 100% of Thalis E.S., one of the most dynamic representatives in the circular economy sector in Greece. Waste management has a prominent position among the dynamically developing activities of Motor Oil Group.
Developing its strategy for the Energy of the future at a steady pace, Motor Oil Group entered into a Sale-Purchase Agreement for the acquisition of all the shares of the company VERD. Following the acquisition of VERD, Motor Oil Group is paving the way in investing and operating in renewable and alternative fuels sector and circular economy through the utilization of bio-based products, and waste products to produce energy and new, more environmentally friendly fuels.
In addition, the construction of a floating storage and regasification unit, FSRU (Floating Storage and Regasification Unit) is already in the Market Test. DiorigaGas S.A., is a strategic project of international scope. A new import gateway that will serve natural gas consumers in Greece and Southeastern Europe.
Environment
964 million euros
in sustainable investments
773 MW
total installed res capacity
800 EV
charging points
416.000 tonnes
CO2e avoided emissions (as per calculator of IRENA)
100% of Water
used in the refinery comes from the sea
~35% total electricity
consumed from renewable energy
MSCI rating: A
People & Society
1,4 billion euros
Social Product
64 million euros
for Community Contribution
4 million euros
spent for health 7 safety
0 high consequence
work related injuries
9,8 million euros
for education and training programs over the period 2015-2022
37.507 hours
of training in 2022
98,5% percentage of employees
who received performance evaluation review
Acting Responsibly
Ethics are embedded in our corporate governance. We are fostering balanced relationships with partners and suppliers.
Adopted and enhanced policies:
- Code of Ethics and Corporate Responsibility, Anti-bribery and Anti- Corruption Policy, Policy Against Violence and Harassment at Work
16 million euro budgets in Innovation & Digital Transformation
220.4 million euros in employee salaries & benefits
Human Resources
For Motor Oil Group, people are its energy. They work together to shape the future of energy and the next generation of leaders.
- 350 + new hirings per year
- 100 + internships
- 3.000 employees
- 250 + rotation/promotion
- 8.000 hours training in leadership skills for manager
Motor Oil leads the way in shaping a sustainable future. With a targeted investment plan, with activity in all areas of energy development, aiming at a sustainable, fair transition and long-term support in society.