Greek oil firm Hellenic Petroleum is planning to invest E500 million in expanding its international operations by 2011, SeeNews has said quoting a senior company official.
SeeNews reported that a major part of Hellenic Petroleum’s investment will go to southeast Europe, Georgia, Cyprus, Egypt and Libya. The firm is reportedly seeking to double its network in southeastern Europe under a five-year investment program.
Hellenic Petroleum plans to invest between E71.4-76.5 million in doubling its petrol stations in Bulgaria from the present network of 50 petrol stations.
The firm is also planning to grow its netowrk in Serbia, where it has around 37 petrol stations. It is also planning to buy an oil depot in the country.