Oil refineries

Hellenic Petroleum, Greece's biggest oil refiner, reported a 15 percent rise in third-quarter core profit on Thursday with stronger sales volumes more than offsetting lower refining margins.

Greece's biggest oil refiner Hellenic Petroleum expects stronger financial results in the third quarter thanks to higher refining margins, it said on Thursday.

Hellenic, which runs three refineries and exports more than half its output, reported an 18 percent drop in second-quarter core profit.

STAR oil refinery in the Aegean province of İzmir has received the first batch of crude oil for processing from Azerbaijan, SOCAR Turkey said in a statement on Aug. 3.

Iraq plans to build an oil refinery at the port of Fao on the Gulf with two Chinese companies, and is seeking investors to build three more, the oil ministry said on its website on Jan. 29.

Greek oil producer Energean has exceeded its target for gas sales contracts needed before it goes ahead with plans to tap two gas fields off Israel's coast, market sources said on Wednesday. Energean bought the Karish and Tanin fields, located in deep waters around 100 kilometers off Israel's coast, last August for $148 million from US-Israeli partners Delek Group and Noble Energy.

Israel's Oil Refineries (ORL) said on Sunday it is in talks to buy 17 billion cubic meters of natural gas from Greek exploration and production firm Energean.

ORL, together with Israel Chemicals and OPC Rotem, are negotiating non-binding memorandums of understanding to buy gas supplies from Energean, ORL said in a statement to the Tel Aviv Stock Exchange.

A brief period of high profitability for the world?s oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said on July 10.

Ten tons of toxic tar was discovered on Wednesday after being dumped on a side road in Koropi, east of Athens.

The containers were spotted by an Attiki Odos employee who notified authorities.

They believe that the substance is what was left over from fuel smugglers’ efforts to convert bunker fuel into heating oil.