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Downstream oil in brief: what is the future for HVO in European fuel markets?

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21 July 2020

Downstream oil in brief: what is the future for HVO in European fuel markets?

Report summary

As environmental legislation across Europe is becoming ever more stringent. As such, we expect biofuels, such as hydrotreated vegetable oil (HVO), will play an important role in meeting climate change goals in the coming years. Some estimates suggest that HVO fuel output will double by 2030. It is 100% renewable and less pollutant than conventional fuels. Despite being more expensive than regular diesel, HVO proved to be a practical choice for Scandinavian fuel marketing companies to green their offerings. But what would it take to repeat its success in lower-income European economies?

Table of contents

  • HVO finds success in Scandinavia
  • Climate change goals are bringing HVO into focus
  • As the market grows, production faces new challenges
  • Conclusion
  • Stronger light end prices support increased Northwest Europe refining margins in June
  • European fuels marketing margins fall further into the five-year range from the highs seen earlier in the year

Tables and charts

This report includes 9 images and tables including:

  • MED refining margins
  • Med gasoline/gasoil crack spreads
  • NWE refining margins
  • NWE gasoline/gasoil crack spreads
  • Gross marketing margins June 2020
  • Italy gasoline gross retail margin
  • UK gasoline gross retail margin
  • Italy diesel gross retail margin
  • UK diesel gross retail margin

What's included

This report contains:

  • Document

    Refining Margins.xls

    XLS 347.50 KB

  • Document

    Downstream oil in brief: what is the future for HVO in European fuel markets?

    PDF 1.07 MB