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Commodity Market Report

Belgium downstream oil long-term outlook

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30 June 2022

Belgium downstream oil long-term outlook

Report summary

The Belgian oil products market is part of the Antwerp/ Rotterdam/ Amsterdam (ARA) oil refining, trading and storage hub. Entry barriers are therefore low and access to product supply relatively unconstrained. Refined products can be sourced either from the TotalEnergies and ExxonMobil refineries at Antwerp or moved into Belgium by barge from refineries located in the Netherlands. The Belgian oil market is mature across most sectors with little or no long-term oil demand growth anticipated. Fuel prices are underpinned by the government-run ‘Contrat Programme' maximum price formula. Fuel retailers are therefore focusing on optimising the size and location of their network. The growth of the automat sector is a key market driver, offering discounted prices in comparison to full-service stations. Companies are also aiming to boost their revenues from non-fuel services at full-service stations. There is also potential in electromobility.

Table of contents

  • Market drivers
  • Outlook
    • Biofuels
    • Electromobility
  • Retail fuel volumes
  • Retail network development
  • Motorway stations
  • Major players: competitive position
  • Hypermarket fuel outlets
  • International oil majors
    • MAES Energy & Mobility
    • EG Group
    • G&V
    • Others
    • Motor fuels
    • Industrial/domestic gas oil
    • Aviation kerosene
    • Contrat Programme maximum fuel price formation
    • Retail fuels marketing
    • Commercial fuels marketing
    • Distribution of oil products
    • Oil product storage infrastructure

Tables and charts

This report includes 17 images and tables including:

  • Total demand
  • Demand by product
  • Car parc by fuel type
  • Retail volumes by product
  • Overall retail network development
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Service station networks and market shares
  • Biofuel blending percentage
  • Biofuel demand
  • Commercial diesel demand
  • Retail gasoline 95RON price formation 2021
  • Retail diesel price formation 2021
  • Retail products: gross margins per year
  • Independent storage facilities
  • Antwerp (ExxonMobil) refinery profile
  • Antwerp (TotalEnergies) refinery profile

What's included

This report contains:

  • Document

    Belgium downstream oil long-term outlook

    PDF 1.64 MB