The merger of Hellenic Petroleum S.A. (ELPE) and Hellenic Petroleum Company-Petrola S.A. was approved by the regional development, competitiveness and shipping ministry on Thursday, to be effected with the absorption of Petrola by ELPE.
Petrola is a wholly owned subsidiary of the Athens-listed ELPE.

ELPE controls three of the country's four refineries -- in Aspropyrgos, Elefsina and Thessaloniki -- and more than 60 percent of the market.