ATHENS, Feb 28 (Reuters)– Hellenic Petroleum, Greece’s greatest oil refiner, claimed on Thursday that 2 of its 3 refineries are currently suitable with harder international marine gas regulations.

UN company the International Maritime Organization (IMO) will certainly ban ships from utilizing gas with sulphur material over 0.5 percent fromJan 1, 2020, compared to 3.5 percent today, unless they are outfitted with exhaust gas cleansing systems.

Hellenic, which exports majority of its result, claimed that its refineries in Elefsina as well as Thessaloniki have actually currently adapted to the brand-new regulations.

“We’re sitting quite positively on the readiness scale, given that two of our three refineries are actually IMO compatible,” Deputy Chief Executive policeman Andreas Shiamishis informed an expert seminar.

Hellenic claimed that its single refinery which generates high sulphur gas oil, Aspropyrgos, will certainly “go IMO live” in November after some examinations in the 2nd quarter.

It reported revenues prior to rate of interest, tax obligation, devaluation as well as amortisation (EBITDA) readjusted for oil supply holdings at 156 million euros ($ 178 million) for the 4th quarter, a 8 percent year-on-year decrease yet in accordance with experts typical projection of 158 million euros in a Reuters survey.

Refining sales quantities climbed 6 percent in October to December to 4 million tonnes.

Hellenic in 2015 elevated 284 million euros from the sale of a risk in Greek gas grid DESFA. The continues assisted it decrease web financial debt by 19 percent in 2015 to 1.5 billion euros.

It claimed it will certainly pay a complete reward of 0.75 euros a share, up from 0.40 euros in 2015. ($ 1 = 0.8792 euros) (Reporting by Angeliki Koutantou Editing by Alexander Smith)

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