Commodity market report

Latvia downstream oil long-term outlook 2017

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Report summary

Latvia suffered from three years of consecutive economic contraction before returning to positive growth since 2011. The recovering economy provided a boost to commercial activity and increased transport fuel demand but over the longer term we expect oil demand to gradually decline driven by fuel efficiency gains .With no domestic refining capacity oil demand is satisfied entirely by imports sourced mostly from Finland and Lithuania. Although there isgood access to independent storage and distribution infrastructure the Latvian retail fuel market is dominated by three international companies: Neste Oil Statoil (Circle K) and LUKOIL. LUKOIL divested its Latvian retail business in 2016 but the brand will remain for the next five years. The Latvian government has increased fuel excise duties for diesel gasoline and LPG from January 2016 which is likely impact demand and profitability in the near term.

What's included

This report contains

  • Document

    Latvia downstream oil long-term outlook 2017

    PDF 472.42 KB

  • Document

    Executive summary

    PDF 77.53 KB

  • Document

    Demand

    PDF 110.05 KB

  • Document

    Policy and regulation

    PDF 77.68 KB

  • Document

    Trade

    PDF 82.04 KB

  • Document

    Market structure

    PDF 136.71 KB

  • Document

    Margins

    PDF 116.12 KB

  • Document

    Infrastructure

    PDF 194.82 KB

Table of contents

Tables and charts

This report includes 18 images and tables including:

Images

  • Overall demand
  • Demand by product
  • Demand by sector
  • Trade balance 2009 - 2015
  • Key trading countries/regions 2015
  • Main products: monthly unit gross margins
  • Infrastructure: Image 1
  • Number of sites and average throughputs
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Market structure: Image 1

Tables

  • Key demand indicators
  • Demand: Table 2
  • Main products: annual average unit gross margins
  • Infrastructure: Table 1
  • Independent storage facilities in Latvia
  • Pipeline capacity and ownership
  • Retail outlets by brand
  • Market shares

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