Value Creation

  • €2,3 bil.
    contribution to the state’s tax revenues

  • €5.85 mil.
    in corporate Responsibility activities in Greece and abroad

  • >30,000
    jobs supported directly and indirectly in Greece

  • €1.69 bil.
    added value to the Greek economy

Value Creation

The Group creates and distributes value to the economy and society by implementing significant investments, and explores new ways to maximize this value through its products and services, jobs and corporate responsibility actions. The Group’s overall contribution to the improvement of the economic performance of Greece and the countries where it operates, confirms the responsible attitude and the long-standing support both the Group and its subsidiaries offer.

Generation and distribution
of economic value

The Group's Aproach

For the HELLENIC PETROLEUM Group, one of the leading Groups in the energy sector in Southeastern Europe, the creation of added value for the economy and society, confirms the responsible attitude and the long-standing contribution of the Group and its subsidiaries, creating, in addition, indirect benefits in terms of growth, employment and national product.

The term “value” includes the benefits received by stakeholders, both monetary and non-monetary, which ultimately determine the value of the company itself. The Group’s contribution through its activities is significant, collecting and remitting a significant part of the indirect taxes of the State (SCT and VAT). Its economic and social contribution includes the value added, jobs and tax revenues that the Group directly generates in the Greek economy. It also includes the indirecteffects created by its economic transactions with domestic suppliers of goods and services, as well as the induced effects, which refer to the impact that the expenditure of employee income generated directly and indirectly by the Group’s activities has on the economy.

As part of the Group’s Corporate Responsibility activity, specific interventions that meet basic social needs and protect the environment are taking place to the local and wider society.

The Group, as one of the main suppliers of liquid fuels in Greece, also supports the fuel retail sector. The Group’s activity, therefore, mobilises wider supply chains and creates economic value by contributing to GDP, employment and tax revenues in Greece.

Globally, the Group’s social and economic footprint contributes to the collective effort to achieve the UN Sustainable Development Goals.

The Group aims to maintain its competitive advantage and create value for the economy and society, taking into account the expectations and wishes of its stakeholders.

Value Chain

The above figures refer to the Group companies based in Greece.
1 The figures refer to the Group
2 The figures refer to the Group companies mentioned in the methodology of the Report p. 4.

*Active suppliers are defined as suppliers who have collaborated with the Group in the last three years.
** The jobs in the self-operated fuel stations have been included in the effects on suppliers (indirect jobs).

Sustainable Supply Chain

The Group has a large and complex list of suppliers with more than 14,000 active suppliers for purchasing materials and equipment or obtaining services. The Group’s partners are not only multinational companies, but also large, medium, small to medium and small-sized local companies. The Group’s suppliers are its important partners, contributing to the achievement of its business objectives. They contribute to its competitiveness and sustainable development, influencing not only its financial performance but also its relations with other stakeholders.

A key objective of Group’s Procurement is to develop and maintain a broad and reliable supply chain, seeking:

  • optimal coverage of the Group’s supply needs
  • the promotion of healthy competition and equal opportunities
  • the fostering of synergies and long-term relationships of mutual benefit
  • absolute transparency and meritocracy
  • application of a strict ethical procurement framework
  • creation of multiple options to safeguard security of supply and minimise business risks
  • adoption of sustainable practices in environmental, social and economic matters to maximise positive impacts
  • support for the local communities through the selection of local suppliers where possible, as this contributes to both local development and the achievement of the Group’s objectives.

To achieve the above, the Group follows a defined framework for cooperation, which includes a Code of Conduct, Procurement Regulations, policies and procedures to promote health and safety, commitment to environmental rules and responsible labour practices with respect for human rights, while also pursuing a supplier evaluation process.

It is worth noting that the Group’s partners are selected and evaluated, both when they are included in the list of suppliers, and while working with them, based not only on business criteria but also on sustainable development criteria. Furthermore, all contracts with the suppliers incorporate a “condition of compliance” with the principles of the UN Global Compact in the areas of human rights, labour, environment and anti-corruption.

Local Community

The tangible support of citizens through actions and initiatives that improve their everyday life and contribute to social progress, are an integral part of the HELLENIC PETROLEUM Group’s corporate philosophy. As a responsible social partner, the Group places particular emphasis on the local communities, where its facilities are located, supporting equal access to social goods, environmental protection, the creation of appropriate infrastructure, immediate response to emergencies, and the creation of value for the economy, through a comprehensive and multifaceted Corporate Responsibility program. At the same time, it applies best practices regarding local suppliers and local residency in the personnel selection process. The initiatives it undertakes are linked to the basic social needs of each region and are shaped through an open dialogue, that takes place regularly with stakeholders.

  • 11.3%

    of suppliers come from the local community

Creating value for local communities

The Group continues to support the local community in many ways, supporting businesses neighbouring its facilities to supply products and services. Purchases from local suppliers amount to 12.5% of the total purchase value of HELPE & DIAXON (industrial companies) and the companies (CHRONUS) of the photovoltaic park in Kozani. For the other companies (commercial, upstream, RES, etc.), purchases from local suppliers account for 95.4% of the total purchase value. For the definition of “local supplier” and more details see indicator 204-1. Note that costs such as purchase, transport and storage of raw materials and intermediate goods, water, energy and telephony, intra-group transactions and payments to government, insurance funds and insurance companies are not taken into account.

  • 12.5%

    of the purchases of HELPE, DIAXON and CHRONUS are made from local suppliers

  • 95.4%

    of the purchases of commercial companies are made from local suppliers

In 2021, the direct jobs supported by the Group in the local community and the indirect and induced jobs created by the Group’s spending on local suppliers are estimated at:

In particular, the contribution to the country’s GDP from the indirect value added in the supply chain created in the local communities is estimated at:

The indirect contribution in taxes paid to the State by the local supply chain amounts to:

Corporate Responsibility

However, the Group’s contribution is not limited to local communities, as through its Corporate Responsibility actions it maintains a responsible attitude towards society as a whole. Specifically, in 2021, Corporate Responsibility actions focused on 4 main axes:

  • Education
  • Society
  • Environment
  • Culture/ Sports

Investments in Corporate Responsibility actions in Greece and abroad totalled €5.85 mil. The actions are designed by thematic category and are implemented both at national and local level, highlighting the extent of the Group’s commitment to society.

Distribution per type of action in Greece

Distribution per national & local level in Greece


HELLENIC PETROLEUM Group stands, with continuity and consistency, by the side of the young generation. Through its Corporate Responsibility program “Proud of Youth”, it rewards excellence over time and actively supports the efforts of young people for learning and development. At the same time, it plans actions that enhance the knowledge, education and sportsmanship of the younger generation.

Local level actions

  • Graduate Excellence Award Program for neighbouring municipalities
    The HELLENIC PETROLEUM Group, through the Graduate Excellence Award Program, emphasizes the importance of excellence and continuous effort, and offers incentives, both material and moral, to the young generation for more knowledge and learning. In particular, it rewards high school graduates from neighbouring municipalities for their excellent performance in the pan-Hellenic university entry examinations, demonstrating in practice that it stands by young people who wish to progress, excel and pursue their dreams.Since the launch of the program in 2009, a total of 3,786 graduates from 25 General and 13 Vocational Lyceums have been rewarded.

National level actions

  • HELLENIC PETROLEUM Group Scholarship Program for Postgraduate Studies
    Since 2013, the Group has been implementing one of the largest scholarship programs for postgraduate studies at universities in Greece or abroad, for young people who stand out for their talent and performance. 

    In particular, to date, it has granted 230 scholarships for academic studies in Higher Education Institutions not only in Greece, but also in France, Germany, Switzerland, the United Kingdom, the United States of America, Canada, Norway and the Netherlands.

  • Educational Suitcase “Earth 2030” for the UN SDGs
    The Group, in cooperation with the NGO “Agoni Grammi Gonimi”, disseminates the UN Sustainable Development Goals to primary and secondary school children through the “Earth 2030” Educational Suitcase. The main objective of the program is to educate and raise awareness of the 17 Goals among children and to create ambassadors to disseminate the Goals to the public. To date, more than 2,000 students from 26 schools across Greece have participated in the program.

Actions abroad

  • Cyprus:
    Implementation of a road safety education program “EKO Safe Rider”, in the framework of the road accident prevention initiative “City’s A.R.T.”.
  • Bulgaria:
    Organisation and support of events with a focus on Road Safety (EKO Moto School), with motorcycle champion Martin Choy as road safety campaign ambassador.
  • Republic of North Macedonia:
    Granting scholarships to 5 postgraduate students at the St. Cyril and Methodius University in Skopje.
  • Montenegro:
    Donation of sports equipment to 12 primary schools, in the framework of an event organised by the Montenegrin Olympic Committee.

In the context of promoting social welfare, the Group continued faithfully its vision of contributing to society as a whole with actions aimed at improving the quality of life of our fellow human beings by meeting basic social needs.

Local level actions

  • Heating oil supply program
    Since 2009, the Group has provided more than 2.5 million litres of heating oil to 1,672 public educational institutions in neighbouring municipalities, creating appropriate learning conditions for more than 309,000 students.
  • Provision of basic necessities
    The Group supports the operation of social grocery stores and the parishes of the municipalities adjacent to its facilities, providing, on a monthly basis, basic necessities to more than 1,750 families living below the poverty line.
  • Support for the Make-A-Wish Greece non profit organization
    In order to offer a better future to the new generation, the Group supported the Make-A-Wish Greece non-profit organization and distributed 15,000 “Wish Stars” to all the children of the Kindergartens and Primary Schools of the Municipalities of Aspropyrgos, Elefsina, Mandra, Megara and Delta of Thessaloniki, granting the wishes of six children with serious illnesses, who reside in Thriasio and Thessaloniki.

National level actions

  • Support to civil society institutions and bodies
    For yet another year, the Group supported the work of various organizations that cater for vulnerable groups of the population, thus expressing a message of solidarity and social contribution.
  • Response to the COVID-19 pandemic
    The Group, with a sense of responsibility, contributed to the collective national effort to tackle the pandemic crisis in 2020 and 2021, by supporting in practice the National Health System and society with donations totalling €8 mil.

Actions abroad

  • Cyprus:
    donation of part of the proceeds (more than 11,500 euros) from the sales of petrol stations to the Elpida Foundation for children with cancer and leukaemia.
  • Bulgaria:
    Donations to the BCause Foundation for Project Northwest – to deliver food to elderly people in need of help, and to the Maiko Mila Foundation for a renovation of the residence’s (provided by the Municipality of Sofia) basement, which will be used as a storage room for items made by mothers of children with special needs.
  • Republic of North Macedonia:
    Donation of 50 sound signalling devices for pedestrian crossings to the Municipality of Skopje, as well as construction of 3 outdoor playgrounds in primary schools in three different municipalities, in cooperation with the “Step by step” Foundation, in the framework of the project “Be IN, be INclusive, be INcluded”.
  • Serbia:
    Donation for the purchase of medical equipment, test kits, basic medical tools and fuel to support efforts to halt the spread of COVID-19 at the Institute of Virology and Vaccines in Torlak and Leskovac General Hospital.
  • Montenegro:
    Donation of PCs to healthcare organisations, such as the Primary Health Care in Podgorica, to respond to the Covid-19 pandemic.

The protection of the environment and the implementation of infrastructure projects for sustainable cities are one of the key pillars of the Group’s Corporate Responsibility. Specifically, the Group ensures the installation, monitoring and maintenance of environmental stations in the areas where it operates, invests in photovoltaic systems on the roofs of schools and institutions, applies the best available techniques for the operation of all facilities, and implements studies and projects in collaboration with the academic community to protect the environment and save energy.

Local level actions

  • Installation of PV in Schools and Institutions
    Since 2012, HELLENIC PETROLEUM Group has put into operation 12 photovoltaic systems on the roofs of schools and institutions, mainly in the local communities where it operates, with a total installed capacity of ~200kW and an average annual production of 284,000 kWh, through which the emission of approximately 266 tons of carbon dioxide is avoided. In 2021, the monitoring of energy consumption continued through an integrated “smart meter”. Maintenance of the installed PV systems was also carried out.
  • Participation in the URB-EN PACT program
    The Group joined the program by presenting the Group’s energy transition strategy and by participating in small-scale actions in cooperation with local communities. Within the framework of the URB-EN PACT program, the “Earth 2030” educational suitcase visited 4 schools in Elefsina during 2021.
  • Air pollution meters
    Air pollution monitors have been installed in neighbouring municipalities of the Group in Thriasio and Thessaloniki. In 2021, the existing ones were maintained and the corresponding program for the installation of air pollution monitoring stations was launched in the Municipality of Haidari, in cooperation with the Municipal Authority of Haidari and the University of West Attica.

National level actions

  • Exhibition “Climate Change”
    In 2021, the Group contributed to the creation of an interactive exhibition dedicated to climate change at the “GAIA” Exhibition Centre of the Goulandris Natural History Museum. This project aims to find solutions and raise public awareness on climate change.
  • Response to the fires of summer 2021
    During the fires in the summer of 2021, the HELLENIC PETROLEUM Group geared to protecting the environment was immediately at the forefront, reinforcing the firefighting units. It ensured the continuous supply of fuel for all fire-fighting vehicles, converted the company’s tankers into water tankers, while Group employees volunteered to assist in the fire-fighting efforts. In addition, the Group undertook the implementation of erosion control projects, with a total budget of €3 mil., in the Gerania Mountains, in the area of Schino and in Attica, in the area of Varybobi. It is worth noting that the projects implemented are 100% ecological, as the construction materials came exclusively from burnt trees in the area.

Actions abroad

  • Cyprus:
    donation of state-of-the-art drones to the Cyprus Fire Service to fight fires.

The Group, through various activities, participates in and supports important cultural events aiming to preserve and disseminate our cultural heritage. At the same time, it supports groups and events that uphold the ideals of sportsmanship and fair play.

Local level actions

  • Anniversary actions 1821-2021 – Construction of playgrounds for people with disabilities
    In 2021, the Group supported the anniversary activities for 1821, with the construction of 3 fully accessible playgrounds for people with disabilities in the neighbouring municipalities of Aspropyrgos, Elefsina and Ampelokipoi-Menemeni. These new spaces are designed to promote creative and experiential play, with an emphasis on full accessibility for children with special needs and are part of the Group’s strategy to improve infrastructure in its local communities.
  • Conservation Building ADAM
    The Group completed the restoration studies (architectural, structural, electromechanical) of the listed building ADAM in Elefsina, highlighting the cultural dynamics of the city.
  • Support for sport
    The Group continued in 2021 to support amateur sports clubs in order to ensure the development of sport and promote the spirit of sportsmanship.

National level actions

  • Anniversary actions 1821-2021 – Documentary “Greek Citizens of the World”
    The Group sponsored the production of an 8-episode documentary, titled “Greek Citizens of the World”, which aims to promote Greek excellence, i.e. people who distinguish themselves abroad and honour Greece.
  • Donation of an electric vehicle in the framework of the EKO Acropolis Rally
    In December 2021, an electric vehicle and a charging station were delivered to the Social Welfare Center of the Region of Central Greece, as part of initiatives undertaken by the Group during the organization of the Acropolis Rally. The vehicle will serve the children and people with disabilities supported by the local structures of the Center.
  • Major Sponsor of the Hellenic Paralympic Committee
    In 2021, the Group renewed and upgraded its sponsorship of the Hellenic Paralympic Committee to “Major Sponsor”, actively supporting the efforts of Greek athletes to achieve their goals. With continuity and consistency, it contributes to the promotion of diversity and inclusion by supporting athletes with disabilities.

Actions abroad

  • Cyprus:
    Financial support for the athlete Natalia Evaggelidou for her participation in the 2020 Tokyo Olympic Games.
  • Republic of North Macedonia:
    OKTA was the main sponsor of the Men’s National Basketball Team in the qualifiers for the FIBA Basketball World Cup 2023, as well as a supporter of the EURONIKEL 2005 Men’s Basketball Club.
    In addition, OKTA supported cultural activities such as the latest Milcho Mancevski film, the Ohrid Summer Festival, the Skopje Jazz Festival and OFFest.
  • Serbia:
    Financial support to the Serbian Olympic Committee and Top Tim Basket Camp.
  • Montenegro:
    Financial support to the Historical Institute of Montenegro, as well as support for sporting events, such as the jeep rally in northern and central Montenegro.
Employee Volunteering

The Group’s employees actively participate in voluntary social solidarity events that take place on an annual basis. In 2021, 144 employees participated in the 38th “Authentic” Athens Marathon and the 15th “Alexander the Great” Thessaloniki International Marathon. Thanks to the participation of employee volunteers who ran the 5, 10 and 42 km routes under the motto “We Participate & We Offer”, for every kilometre they run, the HELLENIC PETROLEUM Group donated €10 to support the work of the “Ark of the World” Organization and the “SYZOI” Association of Parents of People with visual impairments and additional disabilities.

At the same time, for many years, the Group has set up a blood bank and regularly organises voluntary blood donations. All Group companies that implement voluntary blood donation activities, give blood donors an extra day of leave for each participation in a voluntary blood donation, as an extra incentive and reward.

Group Blood Donation Data 2019 2020 2021
Units of Blood Donated by Employees 391 331 139
Coverage of Needs in Units of Blood 335 287 298
  • 144

    employee volunteers ran in races for a good cause

  • 410

    employees are active blood donors

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