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Europe downstream oil in brief: what Poland's proposed merger means for the downstream value chain

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Report summary

Following years of speculation, in February 2017 PKN Orlen announced its intention to purchase the State's shareholding in Grupa Lotos. If successful, this move would consolidate the operations of Poland's only two oil refiners. The post-merger company will control 100% of Poland's refining capacity and a 45% share of the retail fuel market. Our North West Europe Brent and Med Urals FCC gross refining margins strengthened in February, supported by strong fuel oil and gasoline crack spreads. Fuels marketing margins benefited from lower wholesale product prices and a stronger euro versus the US dollar.

What's included

This report contains

  • Document

    Refining Margins.xls

    XLS 321.50 KB

  • Document

    Europe downstream oil in brief: what Poland's proposed merger means for the downstream value chain

    PDF 352.85 KB

  • Document

    Europe downstream oil in brief: what Poland's proposed merger means for the downstream value chain

    ZIP 477.64 KB

Table of contents

  • Downstream M&A activity
    • Refining margins
    • Fuels marketing margins

Tables and charts

This report includes 11 images and tables including:

Images

  • Market shares of top three players in Poland and neighbours
  • MED gasoline/gasoil crack spreads
  • MED refining margins
  • NWE gasoline/gasoil crack spreads
  • NWE refining margins
  • United Kingdom gross marketing margins
  • France gross marketing margins
  • Germany gross marketing margins
  • Spain gross marketing margins

Tables

  • Month average gross margins - February 2018
  • Recent fuels marketing transactions

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