Downstream oil in brief: BP partners up for growth Report

Insight 16 April 2019

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Report summary

Fuels marketing is a key growth area for BP with it aiming to increase pre-tax earnings from US$3.9 billion in 2017 to US$6 billion by 2021. It has over 18,000 branded retail fuel outlets spanning 19 countries. Of which, around half are company-owned which is significantly more than other majors such as ExxonMobil (5%) and Chevron (6%). This affords it a greater degree of operational control, particularly over the non-fuel element. Its integrated fuels value chain allows the company to focus on margin management along the entire value chain from crude extraction to the customer.

The US: a core market for BP
Europe: a high-graded portfolio
Partnerships: key for expansion
Non-fuel: a formula for adding value
In conclusion
Margins
- Refining margins
- Fuels marketingmargins