Hellenic Petroleum Group on Thursday said its net profits totaled 175 million euros in 2009, sharply up from 12 million euros in 2008, although comparable net profits fell to 150 million euros from 204 million euros, over the same period respectively.

The group's board will seek shareholders' approval to a plan to pay a 0.30 euros per share dividend to shareholders (Hellenic Petroleum has already paid a pre-dividend of 0.15 euros per share).

A move to acquire BP's petrol station network in Greece (the deal was completed in December) affected the Group's results.

Commenting on the results, G. Kostopoulos, Hellenic Petroleum's chief executive said both the international and domestic environment remained difficult, while refinery markets were affected by the crisis in the third and fourth quarters, with refinery margins falling to the lowest levels in a decade, with demand for oil products declined.

"However, operating profitability was satisfactory," he noted.