Hearth at Greek Refinery: Crude Unit Down

A fireplace broke out at Greece’s Agioi Theodoroi oil refinery on September 17, disrupting operations at one among its two key crude processing models. The ability, operated by Motor Oil Hellas, is Greece’s second-largest refinery, processing round 175,000 barrels per day. Regardless of the harm, the refinery is working at over 50% capability resulting from its advanced configuration, in keeping with firm sources.

The fireplace, which noticed a number of fireplace crews, helicopters, and emergency autos reply, led to localized evacuations and disrupted transportation within the space, together with highway and rail closures close to Kineta and Corinth stations. Whereas three employees have been reported with minor accidents, no critical casualties occurred. Authorities are anticipated to take care of a robust safety presence till the hearth is totally extinguished.

The disruption at this key facility has raised issues about potential provide impacts within the area, though the refinery’s diminished, but ongoing, operations might assist mitigate a full shutdown state of affairs. The fireplace additionally provides strain on European refining capability at a time when world markets are already delicate to provide shocks, making the restoration and security measures at Agioi Theodoroi essential to the vitality sector’s short-term outlook.

Motor Oil Hellas has but to offer a transparent timeline for full restoration of companies on the facility, leaving the market to observe developments intently.

In 2022, Greece exported greater than $16 billion in refined petroleum merchandise, making the nation the 18^th largest exporter of petroleum merchandise on this planet.

Petroleum is Greece’s prime export by far, though it imports virtually all of its crude that it then refines. The nation’s prime sources for Crude are Iraq, Kazakhstan, and Libya.

By Julianne Geiger for Oilprice.com