Petrolina (company)

Petrolina (Holdings) Public Limited is the largest Cypriot oil company dealing in a wide range of petroleum operations. It is based in Larnaca. As of 2017, it had a nationwide retail network of 100 gas stations.[2]It supplies and markets motor, industrial, domestic, marine and aviation fuels.

Petrolina
TypePublic
IndustryOil and gas industry
Founded1959 (1959)
Headquarters
Larnaca
,
Cyprus
ProductsFuels
lubricants
Revenue€228,983,493 [1]
Websitewww.petrolina.com.cy

History

Petrolina was established in 1959 by Kikis Lefkaritis and his brothers Nikos, Takis, Kallis and Nakis.[3] It was the first Cypriot oil company.[3]

Petrolina went public in December 2000 listing on the Cyprus Stock Exchange.[4]

In 2003, the company bought out Total Aviation with its two storage tanks in Vasilikos and started the process of moving its fuel terminals from Larnaca to Vasilikos (the process should be completed in 2021).[5][6]

In 2018, the turnover was €394.2 mln (up from €391.5 mln in 2017) and after-tax profits rose from €4.2 mln in 2017 to €4.3 mln.[4]

The company’s founder Kikis Lefkaritis died on November 30, 2020.[3]

See also

References
  1. http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=PHL:CY
  2. "Cyprus' Petrolina Company Spurs the Country's Ongoing Economic Growth". southeusummit.com. November 27, 2017. Retrieved December 4, 2020.
  3. "Well-known businessman Kikis Lefkaritis dies age 94". Cyprus Mail. November 30, 2020. Retrieved December 4, 2020.
  4. "ENERGY: Petrolina's new Cyprus storage ready by year-end". Financial Mirror. June 27, 2019. Retrieved December 4, 2020.
  5. "President inaugurates new €80 mln Petrolina fuels storage at Vassiliko". Financial Mirror. January 25, 2020. Retrieved December 4, 2020.
  6. Psyllides, George (August 28, 2020). "Transfer of Larnaca fuel terminals to be completed in a year". Cyprus Mail. Retrieved December 4, 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.