‘Irrational’ characterized existence ceiling In the fuel market the Deputy CEO of Motor OilPetros Tzannetakis, in today’s (11.4.2025) updating the company’s financial results for 2024 on the Athens Stock Exchange.
Specifically, Motor Oil’s chief executive called for the ceiling to be lifted, because after 3 increases in the minimum wage “it is absurd” to exist. “And there are good increases, because life is expensive, supermarkets are expensive, and fuels are expensive,” he added.
In 2024 it was a difficult year, according to Mr Tzannetakis, due to the new extraordinary contribution, on June 19, and the fire at the Motor Oil refinery. However, damage and loss of revenue have been covered by insurance and are now stronger than ever.
For this year’s financial results, Mr Tzannetakis said that the first quarter of 2025 started well and is more optimistic about gasoline and air fuels in the second quarter due to significant tourist traffic.
Concerning Motor Oil’s investments, he said that they would not be affected by US President Donald Trump’s duties, saying: “Our program is not expected to be affected by the uncertainty on the other side of the Atlantic.”
The new gas unit of the Group in cooperation with GEK TERNA is in a test operation, with a validity of 877 MW, and is estimated to be fully operational until the third quarter of 2025.