Month: January 2008

It is hereby announced that the international tender for the award of the construction of a new Crude Distillation Unit with 60,000 bbl/d processing capacity has been completed.  

The project was awarded to the company “TECHNIP Italy”. The capital expenditure for the new unit will be approximately € 180 million. 

This project is part of the Refinery Expansion Program for which MOTOR OIL has invested significant funds over the recent years. 

Following the installation of the new crude unit the total capacity of the Refinery will exceed 170,000 bbl/d or 9 million MT per annum. 

Additional benefits are expected from the substitution of imported Straight Run Fuel Oil by own produced SRFO, the optimization of the crude supply, and the ability to process new types of crude. 

The new unit will be put in operation at the beginning of 2010.

Maroussi, January 29th, 2008.

The Board of Directors

It is hereby announced that on January 28th, 2008, Mr. Demosthenes N. Vardinoyannis, non-executive BoD Member (person obliged to acknowledge his stock exchange transactions on the Company’s shares, according to article 13 of Law 3340/2005), bought 3,000 Company shares of total value  € 38,058.54.

Maroussi, January 29th, 2008.

It is hereby announced that on January 23rd, 2008, Mr. Demosthenes N. Vardinoyannis, non-executive BoD Member (person obliged to acknowledge his stock exchange transactions on the Company’s shares, according to article 13 of Law 3340/2005), bought 8,000 Company shares of total value  € 107,188.

Maroussi, January 24th, 2008.

It is hereby announced that on January 22nd, 2008, Mr. Demosthenes N. Vardinoyannis, non-executive BoD Member (person obliged to acknowledge his stock exchange transactions on the Company’s shares, according to article 13 of Law 3340/2005), bought 2,000 Company shares of total value  € 26,069.

Maroussi, January 23rd, 2008.

It is hereby announced that on January 21st, 2008, Mr. . Theodore Porfyris, Chief Accountant (person obliged to acknowledge his stock exchange transactions on the Company’s shares according to article 13 of Law 3340/2005), bought 2,000 Company shares of total value  € 27,200.

Maroussi, January 22nd, 2008.

It is hereby announced that on January 16th, 2008, PIRAEUS SECURITIES S.A. purchased 231 MOTOR OIL shares of total value  € 3,243.24 which it sold on the same day at  € 3,252.48. This announcement is made in the context of article 6, par. 1(b) case (iv) of the Capital Market Commission Decision 3/347/12.7.2005, considering that PIRAEUS SECURITIES S.A. is controlled by PIRAEUS BANK, on the Board of which Mr. Ioannis V. Vardinoyannis is Non-Executive Vice-Chairman and Mr. George Alexandridis Independent, Non-Executive Member. 

Both Mr. Ioannis V. Vardinoyannis and Mr. George Alexandridis are obliged to acknowledge their stock exchange transactions on the Company’s shares according to article 13 of Law 3340/2005, in their capacity as Non-Executive Vice-Chairman and Non-Executive Member, respectively, of the Board of Directors of MOTOR OIL.

 

Maroussi, January  21st, 2008.

It is hereby announced that on January 11th, 2008, the individuals listed hereunder (all obliged to acknowledge their stock exchange transactions on the Company’s shares according to article 13 of Law 3340/2005), purchased Company shares as follows:

a)Mr. Demosthenes N. Vardinoyannis, non-executive BoD Member – 3,000 shares of total value € 44,700

b)Mr. Theodore Porfyris, Chief Accountant – 2,000 shares of total value   € 30,000.

In addition, on the same date mentioned above, Mr. Ioannis Dimakis, Corporate Announcements Officer, effected stock lending of 6,000 shares of total value  € 92,040 through a Repurchase Agreement.

Maroussi, January 14th, 2008.

It is hereby announced that, during the period December 31st, 2007 – January 7th, 2008, Mr. Demosthenes N. Vardinoyannis, non-executive BoD Member (person obliged to acknowledge his stock exchange transactions on the Company’s shares according to article 13 of Law 3340/2005) effected purchases of Company shares as follows: 

a)December 31st, 2007:  2,000 shares of total value  € 31,600.00

b)January 3rd, 2008:  2,000 shares of total value  € 31,768.90

c)January 7th, 2008:  2,000 shares of total value  € 31,520.00

 

Maroussi, January 8th, 2008.