Commodity Market Report

Latvia downstream oil long-term outlook

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07 August 2018

Latvia downstream oil long-term outlook

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 is good access to independent storage and distribution infrastructure, the Latvian retail fuel market is dominated by three companies: Neste Oil, Circle K and Viada - which acquired LUKOIL's network in 2016. 

Table of contents

    • Market drivers
    • Outlook
  • Demand
    • Regulatory issues
    • Product quality
    • Overall position - net importer
    • Fuels retailing
      • Volumes
      • Overall network development
      • International oil companies
        • Circle K (previously Statoil)
        • Neste
        • Viada
        • Shell
      • Independents
        • Virsi-A
        • Latvijas Nafta
        • Dinaz
        • Others
      • Network efficiency
      • Commercial fuels
    • Fuels marketing margins
    • Storage and distribution infrastructure

Tables and charts

This report includes 16 images and tables including:

  • Key demand indicators
  • Overall demand
  • Demand by product
  • Demand by sector
  • Trade balance 2009 - 2017
  • Main products: monthly unit gross margins
  • Main products: annual average unit gross margins
  • Infrastructure: Image 1
  • Infrastructure: Table 1
  • Independent storage facilities in Latvia
  • Pipeline capacity and ownership
  • Retail fuel volumes
  • Retail outlets by brand
  • Market shares
  • Number of sites and average throughputs
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites

What's included

This report contains:

  • Document

    Latvia downstream oil long-term outlook 2017

    PDF 928.14 KB

  • Document

    Executive summary

    PDF 678.48 KB

  • Document

    Demand

    PDF 710.89 KB

  • Document

    Policy and regulation

    PDF 679.16 KB

  • Document

    Trade

    PDF 693.72 KB

  • Document

    Market structure

    PDF 775.66 KB

  • Document

    Margins

    PDF 729.75 KB

  • Document

    Infrastructure

    PDF 811.53 KB

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