Greece plans to accelerate gas exploration in its western and southern waters in a fresh drive to tap domestic resources amid soaring energy prices and concerns over Russian gas supplies, government sources said. Greece has produced small quantities of oil in the past and has attempted to explore its hydrocarbon potential, but low crude prices .
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Reuters
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Greece s biggest oil refiner Hellenic Petroleum (HEPr.AT) posted a 53% fall in first quarter core profit on Thursday as refining margins were hurt because of lower demand for transport fuel amid coronavirus restrictions in Europe.
Stripping out oil inventory holdings, Hellenic said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 60 million euros ($73 million) in the first quarter, down from 128 million euros in the same period last year.
Higher costs for carbon emission rights under a new European Union emissions trading system also weighed on performance.
($1 = 0.8199 euros)