Commodity Market Report

Finland downstream oil long-term outlook

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30 October 2019

Finland downstream oil long-term outlook

Report summary

With a large refining system relative to domestic demand, Finland retains surplus in oil products and relies on the export market to clear this imbalance. The two domestic oil refineries - Porvoo and Naantali – are both owned by national oil company Neste. Also the market leader in fuel distribution and retail, Neste dominates the inland wholesale market as it effectively sets the ex-refinery product prices for third party fuels marketers. Finland's retail network has been consolidating following the exit of the oil majors from the retail sector. Currently, the top four players supply over 95% of retail fuel demand. The national retail network is characterised by a high proportion of automated sites, at over 60%. However, we don't see this growing much further and expect it to stabilise going forward. As demand oil product demand peaks, we expect to see an increased drive to diversify at the forecourt.

Table of contents

  • Market drivers
  • Outlook
    • Jet kerosene
    • Diesel/gasoil
    • Fuel oil
  • Regulatory issues
    • Overall position - net exporter
    • Volumes
    • Overall network development
    • International oil companies
    • Independent groups
    • SEO
    • Network efficiency
    • Performance pacesetters in the retail market
    • Non-fuel retailing
    • Motor fuels
    • Industrial/domestic gas oil
    • Aviation kerosene
    • Heavy fuel oil
    • LPG
    • Lubricants
    • Bitumen
  • Key issues influencing gross fuel margins
  • Distribution of oil products
    • Independent petroleum product storage
  • Country crude slate overview
    • Porvoo refinery
    • Naantali refinery

Tables and charts

This report includes 27 images and tables including:

  • Key demand indicators
  • Annual demand change
  • Demand by product
  • Demand by sector
  • Car parc by vehicle type
  • Trade balance 2012 - 2018
  • Annual gross fuel marketing margins
  • Main products: annual average unit gross margins
  • Storage and distribution infrastructure
  • Crude input slate
  • Gasoil/diesel demand by sector
  • Fuel oil demand by sector
  • Demand forecast (kt)
  • Key trading partners
  • Gasoline - net exporter
  • Jet - net importer
  • Diesel/gasoil - net exporter
  • Fuel oil - net exporter
  • Retail fuel volumes
  • Retail outlets by brand
  • Market shares
  • Network size and throughput per site
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Commercial diesel volumes

What's included

This report contains:

  • Document

    Finland downstream oil long-term outlook

    PDF 1.43 MB

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