Low oil prices: an opportunity to downsize Downstream?



Get this report



Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information


Contact us

Report summary

The refining segment supported the earnings of integrated majors during the recent decline in oil price. In a low oil price environment the capability of European integrated majors to withstand losses from their Downstream sector is materially impaired which could prompt the rationalisation of weak stand alone refining assets.

What's included

This report contains

  • Document

    Low oil prices: an opportunity to downsize Downstream?

    PDF 340.30 KB

Table of contents

Tables and charts

This report includes 4 images and tables including:


  • Figure 1: Historical Brent FCC Gross Refining Margins
  • Figure 2: European 2013 Net Cash Margin Profile (US$/bbl)
  • Figure 3: Refinery Quartile position of European Integrated Majors
  • Figure 4: Brent price required to maintain current net debt levels 2015 – 2016

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898