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Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinogiannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece. [1] Since 1972 Vardis J. Vardinoyannis has been chairman and managing director. [7]
Vardis Vardinogiannis (Greek: Βαρδής Βαρδινογιάννης; 4 December 1933 – 12 November 2024) was a Greek billionaire oil and shipping businessman. [5] He was the chairman and controlling shareholder of Motor Oil Hellas [6] and Vegas Oil and Gas and involved in numerous other shipping and business interests. [7]
The company is transitioning from a government-owned enterprise to a privately held enterprise. 21.8% of its shares are available to the public through a float on the Athens Stock Exchange, with the Greek government retaining 35.5% and Paneuropean Oil and Industrial Holdings S.A. (a Latsis family holding company) owning the remaining 45.5% of ...
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Greece has 10 million barrels of proved oil reserves as of 1 January 2011. [11] Hellenic Petroleum is the country's largest oil company, followed by Motor Oil Hellas. Greece's oil production stands at 7,946 barrels per day (bbl/d), [11] ranked 90th, while it exports 1,863 bbl/d (57th) [11] and imports 496,600 bbl/d (25th). [11]
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Avin International S.A. is active in the transportation of crude oil, gas and petroleum products. [1] Avin is one of the world's independent shipment oil operators owned by the Vardinoyannis family. [ 2 ]
The family controls Motor Oil Hellas, where Vardinoyannis is Chairman and Chief Executive Officer, [5] while he is also serving as Chairman and CEO in Avin Oil. [8] In the past he served as non-executive board member in Piraeus Bank [9] until June 2012. [10] He is the principal shareholder of the Cairo-based Vegas Oil and Gas.