AADE inks MoU with Motor Oil and Helleniq Energy

In particular, the Memorandum of Cooperation establishes the following agreements on behalf of the companies involved:

• The transportation of confiscated renewable energy products, carried out at the companies’ own risk and expense.
• The secure storage of these products within facilities that meet the prescribed safety and security standards.
• The re-refining of the confiscated products within a short time frame, with payment to the Independent Authority for Public Revenue (AADE) for a reasonable price, as well as the applicable duties and taxes.

This collaboration achieves the following outcomes:

• Faster, safer, and more efficient management of confiscated flammable energy products, benefiting both the environment and the economy.
• Protection of the health and safety of employees and business partners through the immediate removal and proper storage of hazardous and flammable materials.
• Cost savings for the state budget through:
  • The companies assuming full responsibility for storage, collection, and transportation.
  • The re-refining of the product, reducing the need for destruction.
• Strengthening public-private cooperation on matters of mutual interest, particularly in the fight against smuggling and the management of crises related to flammable energy products.

A key element of this collaboration is the exchange of information and mutual support, particularly in the following areas:

• Assessing the volume, sources, and causes of the illegal trafficking of energy products.
• Taking proactive measures to prevent such trafficking.
• Monitoring and tracking the trafficking of illegal energy products.
• Implementing the re-refining process for confiscated illegal energy products, ensuring their effective removal from circulation.

Giorgos Pitsilis, the Governor of the Independent Public Revenue Authority, commented:
“With dedication and responsibility, we join forces and are ready to work together towards a common goal: a sustainable, transparent, and fair energy market that serves the public interest and protects society as a whole, for whose service we have committed our efforts and vision.”