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Our Position

The use of fossil fuels’ products inevitably leads to the emission of greenhouse gases, which, according to most current scientific research and studies, contribute to global warming and the consequent climate change.

We recognize that carbon containing fuels, i.e. petroleum products and natural gas, which currently cover 80% of primary energy requirements, will continue, for the next 30 or 40 years, to constitute the most important resource for covering the constantly increasing global energy needs. Thus, energy-producing companies, such as our own, have a significant role to play in contributing to policy formulation, the delimitation of market-based mechanisms, the development and application on a large-scale of technological and commercial solutions, both for fossil fuels and for other energy sources.  

We recognize and share the general concern over the effect of antrhopogenic activities on the global climate, and the potential effects of climate change on the environment.  

We believe that:

  • Confronting climate change as a global phenomenon, transcending natural or political borders, requires the cooperation and commitment of the global community, as expressed through states, various international and local organizations, companies and industries, as well as consumers at all levels.   
  • There is an urgent need for action (such as the Kyoto protocol) that will establish the foundations for the stabilization of greenhouse gases concentration in the atmosphere in a fair and financially responsible manner.   
  • Energy-saving is a necessary and efficient measure for saving resources and reducing the emissions of greenhouse gas.   
  • Market-based government policies and legislative acts need to be applied, aimed at encouraging energy suppliers and consumers to apply technologically innovative approaches.      

Therefore, and within the framework of carrying out our business operations in a responsible manner, which is expressed through adherence to the principles and objectives of Corporate Social Responsibility and sustainable development, we are committed to the following actions, which allow us to supply the market with high quality fuels, in accordance with the latest specifications, while at the same time persistently striving to reduce the effect of our operations on the environment:

  • Improving energy-saving, with the aim of reducing greenhouse gas emissions.  
  • Investing in the application of management procedures and financially acceptable process technologies, which contribute to reducing emissions.  
  • Cooperating with the competent state authorities and other stakeholders in planning technologically feasible and financially viable environmental protection policies.     
  • Reporting our actions and results, including carbon dioxide emissions, to all interested parties. (EMAS Environmental StatementEnvironmental and Social Report)
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