Petrolina

Short description: Oil Company

Petrolina

Type| Public
Industry| Oil and gas industry
Founded| 1959 (1959)
Headquarters|

Larnaca

Cyprus

Products| Fuels
lubricants
Revenue| €228,983,493 [1]
Website| www.petrolina.com.cy

Petrolina (Holdings) Public Limited is the largest Cypriot oil company dealing in a wide range of petroleum operations.

It is based in Larnaca. As of 2017, it had a nationwide retail network of 100 gas stations.[2] It supplies and markets motor, industrial, domestic, marine and aviation fuels.

## History

Petrolina was established in 1959 by Nikos, Takis, Kallis, Kikis and Nakis Lefkaritis.[3] It was the first Cypriot oil company.[3]

Petrolina went public in December 2000 listing on the Cyprus Stock Exchange.[4]

In 2003, the company bought out Total Aviation with its two storage tanks in Vasilikos and started the process of moving its fuel terminals from Larnaca to Vasilikos (the process should be completed in 2021).[5][6]

In 2018, the turnover was €394.2 mln (up from €391.5 mln in 2017) and after-tax profits rose from €4.2 mln in 2017 to €4.3 mln.[4]

The company’s founder Kikis Lefkaritis died on November 30, 2020.[3]

## See also

* Cyprus Stock Exchange

## References

1. ↑ "PETROLINA (HOLDINGS) Ltd (PHL:CY): Stock Quote & Company Profile - BusinessWeek". http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=PHL:CY.
2. ↑ "Cyprus' Petrolina Company Spurs the Country's Ongoing Economic Growth". southeusummit.com. November 27, 2017. https://southeusummit.com/europe/cyprus-petrolina-company-spurs-the-countrys-ongoing-economic-growth/.
3. ↑ 3.0 3.1 3.2 "Well-known businessman Kikis Lefkaritis dies age 94". November 30, 2020. https://cyprus-mail.com/2020/11/30/well-known-businessman-kikis-lefkaritis-dies-age-94/.
4. ↑ 4.0 4.1 "ENERGY: Petrolina's new Cyprus storage ready by year-end". June 27, 2019. https://www.financialmirror.com/2019/06/27/energy-petrolinas-new-cyprus-storage-ready-by-year-end/.
5. ↑ "President inaugurates new €80 mln Petrolina fuels storage at Vassiliko". January 25, 2020. https://www.financialmirror.com/2020/01/25/president-inaugurates-new-e80-mln-petrolina-fuels-storage-at-vassiliko/.
6. ↑ Psyllides, George (August 28, 2020). "Transfer of Larnaca fuel terminals to be completed in a year". https://cyprus-mail.com/2020/08/28/transfer-of-larnaca-fuel-terminals-to-be-completed-in-a-year/.

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