Motor Oil H1 profit down 54.9% on refinery utilisation, weaker margins

Motor Oil (Hellas) Corinth Refineries

27/08/2025 16:22

Aug 27 (Reuters) - Greek refiner Motor Oil on Wednesday reported a 54.9% decline in first-half net profit as reduced refinery utilisation following a September 2024 refinery fire and softer refining margins outweighed insurance proceeds from the incident.

The Athens-listed group posted a net profit of 163.4 million euros ($191.29 million), compared to 362 million euros a year earlier.

($1 = 0.8542 euros)

 (Reporting by Antonis Pothitos; Editing by  William Maclean)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))