Norway downstream oil long-term outlook Report

Commodity Market Report 14 March 2023

Get this report

$6,750

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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.

Market drivers
Outlook
Car parc
Gasoline
Diesel/gasoil
Jet/kerosene
- 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