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Hellenic Petroleum S.A

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The Greek company Hellenic Petroleum S.A, in 2002 became the mayor owner, with 54.4% of shares of Jugopertol AD Kotor - previously state owned company for exploration, exploitation and trade of petroleum and petroleum products. Hellenic Petroleum paid €65 million for shares and provided additional €35 million for investments. The company has expanded its activities (wholesale, retail, distribution of petroleum). In cooperation with partners from UK Jugopetrol is involved in exploration of gas in the Adriatic Sea.