ELPE to post first-half EBITDA result of 300 million euros

ELPE (Hellenic Petroleum) is expected to announce a first-half EBITDA result of 300 million euros this Thursday, a record-breaking performance for ELPE’s refineries amid the current adverse conditions, company officials have informed energypress.

On another front, the company is currently engaged in talks with Iran, focused on the anticipated resumption of trade as a result of a recent agreement reached between the West and Tehran on Iran’s nuclear program.

The West had imposed sanctions on Iran in 2012. Iran’s state-run oil company NIOC and ELPE share an extensive trading past.

In the lead-up to the current talks, an Iranian delegation had visited Athens on August 8 for meetings with ELPE and Motor Oil officials.

The West has not yet given Iran the green light to begin supplying oil internationally. The date remains unknown at present and will depend on international developments.