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.