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Commodity Market Report

Norway downstream oil long-term outlook

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14 March 2023

Norway downstream oil long-term outlook

Report summary

Although Norway 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. Vehicle fleet electrification is in rapid pace with EVs representing almost 80% all new car sales in 2022.

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
    • Uno-X
    • Alimentation Couche-Tard (Circle K)
    • St1 (Shell)
    • DCC (Esso)
    • Best
    • 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
  • Biogasoline and biodiesel blending percentages
  • 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 (2022)
  • Commercial diesel volumes
  • Annual retail fuel gross margins
  • Retail gasoline 95RON price formation (av. 2022)
  • Retail diesel price formation (av. 2022)
  • Storage and distribution infrastructure
  • Mongstad refinery profile

What's included

This report contains:

  • Document

    Norway downstream oil long-term outlook

    PDF 1.53 MB