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Motor Oil Hellas
Motor Oil (Hellas) Corinth Refineries S.A. ( el, Μότορ Όιλ (Ελλάς) Διυλιστήρια Κορίνθου Α.Ε.) is a petroleum industry based in Greece focusing on oil refining and trading. It is a leading force in its sector in Southern Europe and the Mediterranean. History Motor Oil Hellas was founded on May 7, 1970, by Vardis Vardinogiannis and Georgios Paraschos Aleksandridis. It is headquartered in Marousi, Greece. Since 1972 Vardis J. Vardinoyannis serves as chairman and managing director. The company has over 2,000 employees. Despite the Greek crisis in 2015, the company had thrived. In 2020 Motor Oil Hellas gave TechnipFMC a significant engineering, procurement, and construction management services contract. The new naphtha complex in Greece will have three new processing units and a capacity of . The construction work is scheduled to be complete in 2021. Refinery, facilities and gas stations Through its Korinthos refinery, Motor Oil controls the remain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vardis Vardinogiannis
Vardis Vardinogiannis ( el, Βαρδής Βαρδινογιάννης) is a Greek billionaire oil and shipping businessman. He is the chairman and controlling shareholder of Motor Oil Hellas, Vegas Oil and Gas and involved in numerous other shipping and business interests. Vardinogiannis was included in Lloyd's List's ''Most Influential People in Shipping'' and is also included in Forbes List with estimated fortune 1.6 billion dollars. Early life Vardis Vardinogiannis was born in Episkopi, Rethymno, Crete, the son of poor farmers who originated in Agios Ioannis, Sfakia but moved to Episkopi in the early 20th century. They had eight children: six boys and two girls. Everyone helped in the fields from an early age. Vardinoyannis took elementary school during the Second World War, when Crete was occupied by the Germans. In the postwar years he moved to Athens, where he entered the Hellenic Naval Academy, from which he graduated in 1955 as an officer of the Greek Navy. Busine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Airplane
An airplane or aeroplane (informally plane) is a fixed-wing aircraft that is propelled forward by thrust from a jet engine, propeller, or rocket engine. Airplanes come in a variety of sizes, shapes, and wing configurations. The broad spectrum of uses for airplanes includes recreation, transportation of goods and people, military, and research. Worldwide, commercial aviation transports more than four billion passengers annually on airliners and transports more than 200 billion tonne-kilometersMeasured in RTKs—an RTK is one tonne of revenue freight carried one kilometer. of cargo annually, which is less than 1% of the world's cargo movement. Most airplanes are flown by a pilot on board the aircraft, but some are designed to be remotely or computer-controlled such as drones. The Wright brothers invented and flew the first airplane in 1903, recognized as "the first sustained and controlled heavier-than-air powered flight". [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cairo
Cairo ( ; ar, القاهرة, al-Qāhirah, ) is the capital of Egypt and its largest city, home to 10 million people. It is also part of the largest urban agglomeration in Africa, the Arab world and the Middle East: The Greater Cairo metropolitan area, with a population of 21.9 million, is the 12th-largest in the world by population. Cairo is associated with ancient Egypt, as the Giza pyramid complex and the ancient cities of Memphis and Heliopolis are located in its geographical area. Located near the Nile Delta, the city first developed as Fustat, a settlement founded after the Muslim conquest of Egypt in 640 next to an existing ancient Roman fortress, Babylon. Under the Fatimid dynasty a new city, ''al-Qāhirah'', was founded nearby in 969. It later superseded Fustat as the main urban centre during the Ayyubid and Mamluk periods (12th–16th centuries). Cairo has long been a centre of the region's political and cultural life, and is titled "the city of a thousand m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia and it is located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. Comprising the westernmost peninsulas of Eurasia, it shares the continental landmass of Afro-Eurasia with both Africa and Asia. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south and Asia to the east. Europe is commonly considered to be Boundaries between the continents of Earth#Asia and Europe, separated from Asia by the drainage divide, watershed of the Ural Mountains, the Ural (river), Ural River, the Caspian Sea, the Greater Caucasus, the Black Sea and the waterways of the Turkish Straits. "Europe" (pp. 68–69); "Asia" (pp. 90–91): "A commonly accepted division between Asia and E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corinth Refinery
Corinth Refinery is an oil refining complex in Greece, the largest industrial complex in the country with a capacity of , operated by Motor Oil Hellas. Facilities Fuels production Crude oil is processed in the crude distillation unit, from which liquified petroleum gas (LPG), naphtha, kerosene, diesel and fuel oil are produced. Kerosene and Diesel are further treated mainly in order to remove sulfur thus complying with the required specifications and to produce jet fuel and diesel fuel respectively (both automotive and heating grades). Gasoline production Naphtha is treated to produce gasoline of a high octane number, eliminating the need for adding tetraethyllead to gasoline. Hydrocracker complex This unit is the most recent investment project undertaken by the Company the capital expenditure of which amounted to € 350 million completed within 2005. The operation of the Hydrocracker enabled the production of the new clean fuels with low sulfur content according to the specif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naphtha
Naphtha ( or ) is a flammable liquid hydrocarbon mixture. Mixtures labelled ''naphtha'' have been produced from natural gas condensates, petroleum distillates, and the distillation of coal tar and peat. In different industries and regions ''naphtha'' may also be crude oil or refined products such as kerosene. ''Nephi'' and ''naphthar'' are sometimes used as synonyms. It is also known as Shellite in Australia. Etymology The word ''naphtha'' is from Latin and Ancient Greek (νάφθα), derived from Middle Persian ''naft'' ("wet", "naphtha"), the latter meaning of which was an assimilation from the Akkadian ''napṭu'' (see Semitic relatives such as Arabic ''nafṭ'' petroleum" Syriac ܢܰܦܬܳܐ ''naftā'') and Hebrew נֵפְט ''neft'' (meaning petroleum). In Ancient Greek, it was used to refer to any sort of petroleum or pitch. There is a hypothesis that the word is connected with the name of the Indo-Iranian god Apam Napat, which occurs in Vedic and in Avestic; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Engineering, Procurement, And Construction
Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. Overview Under an EPC contract, a contractor is obliged to deliver a complete facility to a developer who needs only "turn a key" to start operating the facility; hence EPC contracts are sometimes called turnkey construction contracts. In addition to delivering a complete facility, the contractor must deliver that facility for a guaranteed price by a fixed date and it must perform to the specified level. Failure to comply with any requirement will usually result in the contractor incurring monetary liabilities. The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. Various abbreviations used for this type of contract are ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TechnipFMC
TechnipFMC plc ( ) is a French-American, UK-domiciled global oil and gas company that provides complete project life cycle services for the energy industry. It was ranked 23rd among world's Top 225 International Design Firms in the year 2017 by Engineering News-Record. The company was formed by the merger of FMC Technologies of the United States and Technip of France that was announced in 2016 and completed in 2017. TechnipFMC acts in three distinct segments: subsea, offshore/onshore, and surface projects. These projects include offshore oil and gas exploration and extraction platforms, rigs, crude oil refinery, petrochemical plants such as Ethylene, Hydrogen, SynGas plants, Naptha, Benzene etc. plastics & rubber industry, fertiliser plant, onshore as well as floating LNG plants. The company is legally domiciled in the UK, and has major operations in Houston and Paris where its predecessor companies were headquartered. It has about 23,000 employees from 126 nationalities and opera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and letter of credit, paper money, and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labour, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Refinery
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha. Petrochemicals feedstock like ethylene and propylene can also be produced directly by cracking crude oil without the need of using refined products of crude oil such as naphtha. The crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products. In 2020, the total capacity of global refineries for crude oil was about 101.2 million barrels per day. Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids between large chemical processing units, such as distillation colu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum Industry
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The industry is usually divided into three major components: upstream, midstream, and downstream. Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products. Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical concern for many nations. Oil accounts for a large percentage of the wor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasury Stock
A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Stock repurchases are used as a tax efficient method to put cash into shareholders' hands, rather than paying dividends, in jurisdictions that treat capital gains more favorably. Sometimes, companies repurchase their stock when they feel that it is undervalued on the open market. Other times, companies repurchase their stock to reduce dilution from incentive compensation plans for employees. Another reason for stock repurchase is to protect the company against a takeover threat.Robert T. Sprouse, "Accounting for treasury stock transactions: Prevailing practices and new statutory provisions." ''Columbia Law Review'' 59.6 (1959): 882-900online/ref> The United Kingdom equivalent of treasury stock as used in the United States is treasury share. Treasury stocks in the UK refers to governm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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