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Downstream M&A: as majors retreat, who is buying fuels marketing assets in Europe?
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The low oil price and favourable margin environment in 2015 provided a window of opportunity for companies looking to divest European downstream assets, with stronger margins arguably attracting more buyers and better prices. Therefore 2015 saw a continuation of the high level of 2014 downstream M&A activity, particularly in the fuels marketing sector. The most prominent recent trends once again emerged from the 2015 transactions: the majors divesting non-core marketing assets, mostly to downstream-focussed specialist independents and traders looking at expanding their presence in these markets.
Table of contents
- Executive summary
- The Majors continue European downstream retreat
-
A mix of buyers: mostly independents and traders, and MOL
- Regional integrated oil companies
- Independent storage and distribution companies
- Pure-play fuel retailers
- The United Kingdom had the lion's share of transactions in 2015
- Outlook
Tables and charts
This report includes the following images and tables:
- Changes in Europe refining and retail assets between 2005 and 2015
- Majors fuels marketing divestment activity in 2014 and 2015
- UK retail fuel sales volume by type of retailer
- Europe fuels marketing: the major buyers' positions at end-2015
What's included
This report contains:
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