Commodity Market Report

Norway downstream oil long-term outlook

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29 September 2021

Norway downstream oil long-term outlook

Report summary

Norway’s total oil demand is slowly recovering after the coronavirus pandemic, but we do not see demand returning to 2019 levels. Although the country has traditionally been a net exporter of oil products, ExxonMobil’s decision to close its refinery in Slagen might somewhat change this position. Norway’s retail fuels market is highly concentrated, with four companies – Circle K, DCC, St1, and Uno-X – supplying approximately 90% of the market. This leads to limited retail fuel price competition supporting healthy gross margins.

Table of contents

  • Market drivers
  • Outlook
  • Car parc
  • Gasoline
  • Diesel/gasoil
    • Compulsory stockholding
    • Excise duty and tax
    • Product quality
    • Biofuels
    • Electricity
    • Hydrogen
    • Retail network development
    • Major players: competitive position
    • Major players: strategies
    • Alimentation Couche-Tard (Circle K)
    • Best
    • DCC (Esso)
    • St1
    • Uno-X
    • Non-fuel retailing
    • Motor fuels
    • Aviation kerosene
    • Lubricants
    • Fuels marketing margins
    • Commercial fuels
    • Retail prices
    • Oil product storage infrastructure
    • Independent petroleum product storage

Tables and charts

This report includes 14 images and tables including:

  • Total demand
  • Demand by product
  • Car parc by fuel type
  • Gasoil and diesel demand by sector
  • Retail fuel volumes
  • Number of sites and average throughputs
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Retail fuel network size and retail fuel market share (2020)
  • Commercial diesel volumes
  • Annual retail fuel gross margins
  • Retail gasoline 95RON price formation (av. 2020)
  • Retail diesel price formation (av. 2020)
  • Storage and distribution infrastructure
  • Mongstad refinery profile

What's included

This report contains:

  • Document

    Norway downstream oil long-term outlook

    PDF 1.63 MB