Europe downstream oil month in brief: Spanish fuel retailer DISA acquires high-volume network from GESA Carburantes
The growing Spanish market is attracting investment from independent fuel retailers, as DISA announced the acquisition of 30 high-volume sites from GESA Carburantes. Pending regulatory approval, the deal will see DISA become Spain's largest independent fuel retailer and fourth largest overall, behind the three major refiners Repsol, Cepsa and BP. Our North West Europe Brent and Med Urals FCC gross refining margins strengthened in August due to refinery shutdowns in Europe and the impact of Hurricane Harvey striking the US Gulf Coast. In August, gasoline retail fuel margins declined across most European markets, as pump price hikes did not keep pace with rising wholesale cost of product.