Commodity Market Report

Greece downstream oil long-term outlook

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05 December 2018

Greece downstream oil long-term outlook

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

    • Market drivers
    • Outlook
    • Key demand indicators
    • Annual demand change
    • Car parc by vehicle type
    • Demand forecast (kt)
    • Regulatory issues
      • Duty and taxes
      • Compulsory stock obligation
      • Biofuel mandates
  • Trade
    • Fuels retailing
      • Volumes
        • Retail fuel volumes
    • Key issues influencing net profitability
      • Retail fuels marketing
    • Distribution of oil products
    • Oil product storage infrastructure
    • Crude oil delivery
    • Country crude slate overview
    • 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:

  • Document

    Greece downstream oil long-term outlook

    PDF 1.17 MB

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