Our Strategy

Transforming from an oil company into an organisation that operates across the energy spectrum. We adopt ESG criteria in our business strategy and capital allocation, with the aim to reduce our carbon footprint across all activities and achieve climate neutrality.

Vision 2025 Strategy

We are implementing a holistic transformation plan, called Vision 2025. The program sets out the strategic agenda for seizing the opportunities emerging from the evolving energy landscape.

Vision 2025 is anchored in five key pillars:

Redefining ESG strategy and GHG emissions’ targets

Our objective is to significantly and continuously reduce our carbon footprint by 2050. Specifically, by 2030, we're targeting a 30% reduction in Scope 1 and 2 CO₂ emissions, as well as an increase in installed RES capacity to 2 GW (which will contribute an additional 20% in CO₂ emissions reduction). Our ultimate goal is to achieve net-zero CO₂ emissions by 2050.

Realigning our business strategy and capital allocation

We are improving our core activities to focus on operational excellence, energy efficiency, and reducing our carbon footprint, while further growing our international trading business. In terms of New Energy, we are investing in Renewable Energy Sources and e-mobility, while we're aiming to strengthen our position in the electricity sector.

Upgrading corporate governance

We are committed to ensuring the effective operation of the BoD and maintaining open communication with shareholders and social partners.

Establishing a fit-for-purpose corporate structure

In early 2022, we successfully restructured our corporate structure by way of a hive-down of the refining, supply and sales of oil products and petrochemicals activity, while integrating it into a new company.

Adopting a new corporate identity

Following the approval from the Extraordinary General Meeting in September 2022, we announced our new corporate identity. It was presented at special events across all our subsidiaries and markets where we operate.

Sustainable Development & ESG

We have integrated the global UN Sustainable Development Goals (SDGs) into our strategy. We have made it a priority to spread the goals of the 2030 Agenda and we actively participate in their realization with targeted policies, actions and social programs.

Our People

Our goal is to provide a working environment that prioritizes safety and inspires motivation. We are committed to fostering a culture where every individual is treated with respect and has equal opportunities to enhance their skills and advance in their careers.

Corporate Responsibility

We generate value for both the economy and society through meaningful investments. We continuously seek innovative approaches to amplify this value through our products and services, employment opportunities, and our corporate responsibility initiatives.

Corporate Governance & Risk Management

We are establishing a well-structured corporate governance system, embracing best practices that exceed mere legal requirements. We systematically identify, assess, and address potential risks, guided by their management framework, ensuring the Group’s seamless and efficient operation.

Balanced Portfolio

New Energy

We are investing in cutting-edge technologies, spanning from photovoltaic and wind parks to energy storage, CO2 capture, and green hydrogen.

Cleaner Fuels

We are implementing significant modernization projects at our facilities while launching processes to produce cleaner, low-emission liquid fuels. We are investing in advanced biofuels, liquefied natural gas, low-carbon raw materials, and the circular economy.

Digital Transformation

We are implementing an extensive Digital Transformation plan. By incorporating innovative technologies, we are fundamentally changing our operational approach, generating enhanced value for not only our organization and its value chain, but also for the broader economy and society.

Digital Transformation