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Downstream oil in brief: are Italian forecourts an opportunity or risk for Eni?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In recent years, Italian integrated oil and gas company Eni has been high-grading its retail network across Europe. To achieve this, it has exited non-core markets and divested its poorest-performing sites. These efforts have had some positive effects on performance with both fuel and non-fuel sales per site increasing. Despite these marginal gains, Eni continues to have the smallest, and worst-performing, retail network amongst the oil majors. Given this, it stands to question whether its retail business can continue to support its refining system in the face of a declining outlook for transport fuels across Europe. This is only made more apparent as the sector is disrupted by alternative fuels which could render a large number of forecourts unprofitable without diversification.
Table of contents
- What are the risks associated with overexposure to the Italian market?
- How can Eni remain competitive in the face of a declining retail fuel outlook?
- What other downstream strategies are there to support its refining business?
- Conclusion
- Brent FCC margins strengthened as gasoline cracks rebound – stocks tighten on slow re-supply and high U.S. and WAF export demand
- The average diesel pump price premium decreases for the fourth consecutive month
Tables and charts
This report includes the following images and tables:
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People per service station for the six largest EU nations (by population)EG Group non-fuel revenue per siteExxonMobil's European branded retail sites
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NWE refining marginsNWE gasoline/gasoil crack spreadsMED refining marginsMed gasoline/gasoil crack spreadsGross marketing margins October 2019Ireland gasoline gross marketing marginsEstonia gasoline gross marketing marginsIreland diesel gross marketing marginsEstonia diesel gross marketing margins
What's included
This report contains:
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