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Hellenic Petroleum

Hellenic Petroleum is a publicly listed oil and gas company headquartered in Greece. In 2020, it had USD 7.08 billion in revenue and a reported 3,500 employees*. The company operates three refineries and markets and distributes petroleum products in Southeast Europe. It is currently undertaking exploration activities and plans to become a fully integrated company by expanding into oil and gas production.

Ranking position
#15/100
Total score
20.7/100
Performance score
3.7/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

6.7 / 100 #30

Material Investment

51.2 / 100 #2

Intangible Investment

0.0 / 100 #20

Sold products

8.8 / 100 #17

Management

34.1 / 100 #45

Supplier Engagement

20.0 / 100 #21

Client Engagement

17.5 / 100 #21

Policy Engagement

40.0 / 100 #16

Business Model

10.0 / 100 #27

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Hellenic Petroleum receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. The company recently reported more detail on its scope 1 and 2 emissions reductions targets and stated aims to become net-zero by 2050. However, it is undertaking exploration activities and plans to expand into upstream oil and gas production. Moreover, its target to reduce scope 1 and 2 absolute emissions by 30% by 2030 relies, excluding offsets, does not align with its1 .5°C pathway. Although the company has planned for CapEx in renewable energy projects, the amount it has budgeted for this is unlikely to deliver the rate of change required to achieve a low-carbon transition, especially when compared to the relative size of its fossil fuel activities.

Progress towards the Paris Agreement

More about the company

Headquarters
Athens, Greece
Group revenue
EUR 5.8 billion (USD 7.08 billion)
Ownership structure
Publicly listed
Number of employees
3,500
Scope of activity
Semi integrated
Website
https://www.helpe.gr/en/