It adopted its current name in 1998, changing from Public Petroleum Corporation S.A. (Greek: Δημόσια Επιχείρηση Πετρελαίου Α.Ε., romanized: Dimósia Epicheírisi Petrelaíou A.E.

Hellenic Petroleum operates three refineries in Greece, in Thessaloniki, Elefsina and Aspropyrgos, which account for 57% of the refining capacity of the country (the remaining 43% belongs to Motor Oil Hellas).

The Group has established partnerships with leading companies in the sector, been awarded exploration and production rights for hydrocarbons in a portfolio of areas in Western Greece, both offshore and onshore in various development steps.

[8][9] According to research by Yale School of Management, which assesses corporate responses to the invasion, Hellenic Petroleum falls into the "Grade D" category of "Holding Off New Investments/Development."

[10] This stance has drawn criticism as it sustains economic ties with Russia, a country engaged in aggressive actions that have resulted in severe humanitarian crises and civilian casualties in Ukraine.