Downstream M&A: as majors retreat, who is buying fuels marketing assets in Europe?
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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 4 images and tables including:
- 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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