Commodity Market Report
Greece downstream oil long-term outlook
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Report summary
Although total oil demand has been on the rise since 2014, it is still down on pre-recession levels. We forecast that demand will stagnate through our forecast period to 2030. The local refining industry remains dominated by the two domestic refiners, Hellenic Petroleum and Motor Oil Hellas. The refiners supply the majority of the inland wholesale market and around 55% of the retail market through their various marketing arms. Many companies have been hard hit by a sharp fall in the consumption of road fuels and heating oil as successive governments raised fuel taxes to meet revenue targets set by international creditors. A number of players have gone bankrupt, most notably Mamidoil-Jetoil in 2016. The government announced in 2018 a tender for the purchase of a 50.1% stake in Hellenic Petroleum as part of a continued privatisation plan.
Table of contents
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Executive summary
- Market drivers
- Outlook
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Demand
- Key demand indicators
- Annual demand change
- Car parc by vehicle type
- Demand forecast (kt)
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Policy and regulation
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Regulatory issues
- Duty and taxes
- Compulsory stock obligation
- Biofuel mandates
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Regulatory issues
- Trade
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Market structure
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Fuels retailing
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Volumes
- Retail fuel volumes
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Volumes
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Fuels retailing
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Margins
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Key issues influencing net profitability
- Retail fuels marketing
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Key issues influencing net profitability
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Infrastructure
- Distribution of oil products
- Oil product storage infrastructure
- Crude oil delivery
- Country crude slate overview
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Refining overview
- Aspropyrgos refinery
- Thessaloniki refinery
- Corinth refinery
Tables and charts
This report includes 28 images and tables including:
- Trade balance 2010 - 2017
- Trade: Table 1
- Trade: Table 2
- Storage and distribution infrastructure
- Demand: Table 1
- Total demand
- Demand: Image 2
- Demand by product
- Demand by sector
- Demand: Image 5
- Gasoil/diesel demand by sector
- Fuel oil by sector
- Demand: Table 2
- Infrastructure: Image 2
- Infrastructure: Table 1
- Pipeline capacity and ownership
- Infrastructure: Image 3
- Retail gasoline 95 RON price formation 2017
- Retail diesel price formation 2017
- Margins: Table 1
- Margins: Table 2
- Infrastructure: Table 3
- Elefsis refinery
- Infrastructure: Table 5
- Infrastructure: Table 6
- Market structure: Table 1
- Market structure: Table 2
- Market structure: Table 3
What's included
This report contains:
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