Sustainability Report 2014 Vision to Be a Leading Oil Refiner and Oil Products Marketing Enterprise in Greece and the Wider Region
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SUSTAINABILITY REPORT 2014 VISION To be a leading oil refiner and oil products marketing enterprise in Greece and the wider region. CORPORATE MISSION To conduct our business operations so as to To meet our customers’ needs responsibly To function reliably, swiftly and flexibly increase the company’s corporate value for and effectively, while expanding our in our relationships with our people, the benefit of all stakeholders -shareholders, share in the domestic market. customers, suppliers, and the general personnel, customers, suppliers, associates public, by making use of practices that and partners, as well as the local and greater demonstrate responsibility and integrity, community- applying technological and as well as respect for people and the commercial innovations. environment. Sustainability Report 2014 STRATEGIC GOALS Maximising the profitability Maximisation and optimisation of Striving for the highest standards of the refinery and overall financial sales, by effectively marketing the of Health and Safety, Environmental performance. refinery products and exploiting protection and Quality, through the opportunities in our three markets application of technical, operational (domestic, aviation-marine and organisational innovations and bunkering, and export), improvements to the refinery. for achieving the best possible profitability. OUR VALUES 1 2 Efficiency Responsibility towards • Achieving set targets. • Providing a safe, stimulating and • Our personnel. • Creating value for reciprocal workplace. • Our shareholders. shareholders and society. • Continuous improvement. • Our customers. • Protecting the environment • Promoting learning and innovation. • Our associates and partners. • Servicing customers’ needs. • Society. 3 4 Social responsibility Integrity • Respect for people and their • Priority for Health and Safety. • Respect for laws and regulations. • Honest and open communication. needs. • Ensuring that the company is an • Applying business ethics and • Credibility and propriety in all • Respect for the environment active and responsible corporate the principles of corporate company relations. and commitment to sustainable citizen, respecting the local governance. growth. community and society as a whole. OUR PRINCIPLES Respect for our people Respect for the environment Transparency We recognise the value of our people We recognise the value of sustainable We operate professionally and responsibly, and we promote their personal development and the value of our natural strictly implementing the principles of business development, while offering competitive environment, and commit ourselves to the ethics and corporate governance. terms of employment, within a working implementation of effective operational environment of respect and mutual trust. procedures and technology for its We respect human and labour rights and protection. give first priority to workplace Health and Safety assurance. SUSTAINABILITY REPORT 2014 SUSTAINABILITY REPORT 2014 2 3 43 YEARS MOTOR OIL The growth of MOTOR OIL: Important milestones 2001 Increase of the 2005 2007 company’s equity The Hydrocracker Registration of the capital through public Complex is company in the 1996 offer of shares and commissioned, Hellenic Register 2009 Purchase of 50% of listing on the Athens facilitating the of EMAS (Eco- Increase of the 2011 the company’s shares Stock Exchange. production of “clean Management and participation in the Completion of the construction of by Saudi Arabian fuels” conforming Audit Scheme). share capital of OFC 5th gas turbine in refinery’s power 1972 Oil Company (Saudi Installation of a new to European Union AVIATION FUEL cogeneration plant, which now has a Commissioning of the Aramco). Gas Turbine in the specifications for 2005 Issue of the SERVICES S.A. from total capacity of 85MW. refinery. It comprises 1978 Power Plant. 2004 and 2009. first voluntary 28.0% to 92.06%. a Crude Oil Distillation Commissioning of the 1984 Relocation of the Head Commissioning of the Environmental Construction completion of Unit, a base oils Catalytic Reformer Construction of a Office to a modern Upgrading of the new Truck Loading Repurchase of Saudi Statement, conforming Entry into natural gas KORINTHOS POWER S.A power plant, production unit and Unit for gasoline Power Plant, burning Offices Complex in Lubes Vacuum Terminal at the Aramco’s stake in the with EU Regulation trading in collaboration located in the MOTOR OIL refinery port facilities. production fuel gas. Maroussi. Distillation Unit. refinery. company. EMAS ER 761/2001. with MYTILINEOS S.A. premises. 1975 1980 1993 2000 2002 2006 2008 2010 2014 Construction Commissioning of the ISO 9002 quality Construction of new Acquisition of 100% of Certification of the Certification of Health Commissioning of the new MOTOR OIL achieves, for completion of the Catalytic Cracking Unit certification for units and upgrading of the retail oil marketing refinery’s Chemical and Safety Management 60,000 barrels/day Crude the seventh year in a row, 100,000 barrels/day (for converting fuel oil the entire range the Naphtha Reformer company AVIN OIL. Laboratory, according System, according to Distillation Unit, and of two sales and production record Crude Distillation to higher added value of the company’s into a continuous to ISO 17025:2005 OHSAS 18001:2007. additional Sulphur Recovery (12.7 and 11.2 million MT Complex. products). commercial and 103-octane number Units, of a combined 170 respectively). manufacturing catalyst regeneration Joint Venture Agreement ΜΤ/day sulphur production Construction activities. unit for the production with MYTILINEOS S.A. capacity. Acquisition of 100% of completion of the 1.5 of fuels conforming to for the construction the retail oil marketing million cubic metres EU specifications. and operation of the Completion of the acquisition company Cyclon A.B.E.E. tank farm. KORINTHOS POWER S.A. of the shares of the New Central Control natural gas, combined- companies SHELL HELLAS Recertification of the Room and installation cycle Power Plant. S.A. (renamed to Coral S.A.), Quality Management of a Distributed Control and SHELL GAS A.E.B.E.Y. System according to System. (renamed to Coral GAS the ISO 9001:2008, the A.E.B.E.Y.), as well as of 49% Environmental Management Certification of the of the aviation fuels trading System according to Environmental company. ISO 14001:2004 and Management System, the Health and Safety according to Management System, ISO 14001:1996. according to OHSAS 18001:2007. SUSTAINABILITY REPORT 2014 SUSTAINABILITY REPORT 2014 4 5 MANAGEMENT MESSAGE 2014 was a year of great challenges for us, as we had to encounter especially difficult conditions in the oil and refining industry in the Mediterranean region. In this context, we should add that our country is at a critical standpoint, waiting for developments that will judge its future course. Thus, we hope that our collective efforts will lead to the end of this recession and to a material and solid recovery. Our Group, as a responsible corporate citizen, deals with all such challenges with a strong sense of responsibility and continues to operate insightfully, having the values of sustainable growth fully embedded in our daily activities and our plans for the future. With our operations we aim to contribute to a sustainable and long lasting recovery of the Greek business environment, through structured investments, employment opportunities and support of the social needs of this country. Through our activities we continuously support our shareholders, customers, employees, suppliers, collaborators and other various stakeholders. During the last 15 years, through continuous organic growth and acquisitions, we have invested more than 1.6 billion euros, which allows us to be flexible and able to face the volatile market conditions successfully. In 2014, we managed once more to set a record not only in sales but also in production. Also, by further exploiting our export potential, we managed to export 75% of our sales. In parallel, we stayed true to our commitments for corporate responsibility. With a workforce of over 1.800 employees in the entire Group, we offer excellent working conditions and we commit to the development of our people with extensive training programmes. We continue to place special emphasis on the implementation of integrated management systems for Health, Safety and the Environment. Aiming at Goal Zero we strive on a daily basis and we foster a culture of safety in all our activities and especially our depots and facilities. We are continuously reducing our environmental footprint through the use of Best Available Techniques, helping to cut emissions of all sorts, to enhance energy efficiency and to manage all byproducts or waste from our main activity. We support the society through a variety of programmes and initiatives, which place emphasis on the needs of the local communities and the young generation that are affected particularly harshly by the crisis. All the above are described in detail in this “Sustainability Report 2014”, the thirteenth such report, which describes our Group’s activities. Its structure is aligned with the recent Global Reporting Initiative G4 guidelines, focusing on the materiality of the data presented and on an objective and transparent presentation of our results. In this context, this Report serves as our Communication On Progress on the basis of the UN Global Compact principles that we endorse and support. As a leading company in our sector, we continue, with