Hel­lenic Petroleum ex­pects big drop in trans­port fuel de­mand

Kathimerini English - - Front Page -

oil re­finer Hel­lenic Petroleum ex­pects a dou­ble-digit drop in de­mand for trans­port fuel in Greece this year as the coro­n­avirus re­stric­tions have hurt travel, its chief ex­ec­u­tive of­fi­cer said yes­ter­day. Greece ex­pects tourist ar­rivals to fall sharply this year due to Covid-19. This will con­se­quently im­pact de­mand for gaso­line, air­craft and ship fuel in the coun­try, An­dreas Shi­amishis told a vir­tual news con­fer­ence. “A drop of 20-30% in de­mand for trans­port fuel in Greece would be a fa­vor­able sce­nario tak­ing into ac­count its heavy re­liance on tourism,” he said. Hel­lenic Petroleum and the Greek gov­ern­ment are jointly sell­ing a 100% stake in state-con­trolled gas dis­tri­bu­tion net­work DEPA In­fra­struc­ture to help open up the gas sec­tor, part of an agree­ment be­tween the coun­try and its lenders af­ter it ex­ited its lat­est bailout in 2018. Greece has short-listed six in­vestors in the sale and Shi­amishis said a pre­ferred bid­der could be named later in the year or in the first quar­ter of 2021.

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