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Downstream oil in brief: EG Group to buy OMV's German retail network
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
EG Group has entered into an agreement to acquire OMV's German network of 285 service stations in the South of the country. The deal is expected to close later in 2021 and will see the EG Group’s network become the third-largest in Germany. Success will be dependent on whether the heavily leveraged EG Group can extract the same level of value from its continental Europe network as it has done in the UK. For EG Group, could this be the end of a spate of debt-funded acquisitions and is an IPO next on the cards?
Table of contents
- Exiting refiners and changing consumer behaviour paves the way for independent fuel retailers
- Extracting maximum value from service stations as road transport fuel demand declines
- Conclusion
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Refining margins:
- December values decline as European refinery run rates remain low and tighter lockdown restrictions are implemented
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Marketing margins:
- Wholesale prices rise on the back of strengthening crude oil prices turning average European fuel margins negative once again in December
Tables and charts
This report includes the following images and tables:
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NWE refining marginsNWE gasoline/gas oil crack spreadsMED refining margins
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MED gasoline/gas oil crack spreadsGross marketing margins December 2020Netherlands gross gasoline retail marginsNetherlands gross diesel retail marginsSpain gross gasoline retail marginsSpain gross diesel retail margins
What's included
This report contains:
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