On Thursday, at a special event attended by Prime Minister Alexis Tsipras, the contracts for the granting of the right to explore and exploit hydrocarbons in the sea areas of “Western Crete” and “Southwest Crete” were signed. These are marine areas of 20.058,4 sq.km. west and 19.868.37 sq.km. southwest of Crete.

Greece's biggest oil refiner Hellenic Petroleum (HELPE) recorded its best annual results in its history for 2016 due to new policies on crude oil supplies, borrowing cost reduction and an enlargement of commercial cooperation, the company’s Chairman Stathis Tsotsoros told the Athens-Macedonian News Agency in an interview published on Sunday.