Commodity Market Report
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
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Executive summary
- Market drivers
- Outlook
- Demand
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Policy and regulation
- Regulatory issues
- Product quality
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Trade
- Overall position - net importer
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Market structure
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Fuels retailing
- Volumes
- Overall network development
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International oil companies
- Circle K (previously Statoil)
- Neste
- Viada
- Shell
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Independents
- Virsi-A
- Latvijas Nafta
- Dinaz
- Others
- Network efficiency
- Commercial fuels
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Fuels retailing
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Margins
- Fuels marketing margins
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Infrastructure
- 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:
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