Motor Oil, Greece's second biggest refiner, said on Tuesday group sales volume would be flat this year compared to 2009 as a new distillation unit helps reverse a sales drop posted in the first half.
"Sales volume will be at the same level as last year," Chief Financial Officer Petros Tzanetakis told reporters.
Motor Oil's sales volume reached 9.5 million metric tonnes last year. But the reading declined at a 8.5 percent annual pace to 4,417 tonnes in the first half, primarily affected by lower trading of petroleum products across southern Europe.
A new crude distillation unit completed in May is already boosting sales, particularly in Turkey and Libya, Tzannetakis said.
"Exports are going splendidly," he said. Foreign sales account for about half of Motor Oil's sales volume.
Motor Oil's new distillation unit, which cost about 180 million euros ($251.5 million) to build, was designed to boost refinery capacity by 25 percent.
The company last year bought the Greek service stations of Royal Dutch Shell (RDSa.L: Quote) to diversify operations and lessen dependence on its sole refinery near Athens.