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Downstream oil in brief: are Italian forecourts an opportunity or risk for Eni?
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 12 images and tables including:
- People per service station for the six largest EU nations (by population)
- EG Group non-fuel revenue per site
- ExxonMobil's European branded retail sites
- NWE refining margins
- NWE gasoline/gasoil crack spreads
- MED refining margins
- Med gasoline/gasoil crack spreads
- Gross marketing margins October 2019
- Ireland gasoline gross marketing margins
- Estonia gasoline gross marketing margins
- Ireland diesel gross marketing margins
- Estonia diesel gross marketing margins
What's included
This report contains:
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