Commodity Market Report

Portugal downstream oil long-term outlook

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21 February 2020

Portugal downstream oil long-term outlook

Report summary

Sole national refiner, Galp Energia, dominates the downstream oil sector in Portugal, supported by its control over much of the country’s distribution infrastructure. Following extensive upgrades at its two oil refineries, Sines and Porto, Portugal's production of gasoline and middle distillate fuels is surplus to domestic demand, resulting in net exports. The country's growing independent retail sector is challenging the status quo fuels market structure, as players like Prio Energy are expanding their networks and gaining volume market share. Against a backdrop of declining road fuel demand, we expect alternative fuels and non-fuel convenience retail to player a greater part in the forecourt business model.

Table of contents

  • Market drivers
  • Outlook
  • Gasoline
  • Diesel/gasoil
  • Jet kerosene
  • Fuel oil
    • Compulsory stockholding
    • Excise duty and taxes
    • Biofuels
    • Electric vehicles
  • Product quality
  • Overall position - net exporter
    • Volumes
    • Overall network development
    • Motorway fuel outlets
    • Hypermarket fuel outlets
    • International oil companies
    • Galp
    • Repsol
    • BP
    • Cepsa
    • Independent groups
    • Prio Energy
    • Avia
    • Network efficiency
    • Performance pacesetters in the retail market
    • Non-fuel retailing
    • Industrial and domestic gas oil
    • Aviation kerosene
    • Heavy fuel oil
    • Marine bunkers
    • LPG
    • Lubricants
    • Bitumen
    • Retail fuels marketing
    • Commercial fuels marketing
  • Marketing gross fuel margins
  • Distribution of oil products
  • Oil product storage infrastructure
  • Country crude slate overview

Tables and charts

This report includes 27 images and tables including:

  • Key demand indicators
  • Total demand
  • Demand by product
  • Demand by sectors
  • Car parc by vehicle type
  • Gasoil and diesel demand
  • Fuel oil demand by sector
  • Demand forecast (kt)
  • Trade balance
  • Key trading partners
  • Gasoline - Net exporter
  • Jet/Kero - Net exporter
  • Diesel/Gasoil - Net exporter
  • Fuel oil - Net exporter
  • Commercial diesel volumes
  • Main products: monthly unit gross margins
  • Annual gross fuel marketing margins
  • Unit net margins
  • Storage and distribution infrastructure
  • Crude input slate
  • Sines refinery profile
  • Porto refinery profile
  • Retail fuel volumes and car parc
  • Retail outlets by brand
  • Retail market shares
  • Retail network and throughput per site
  • Network Effectiveness Ratio*

What's included

This report contains:

  • Document

    Portugal downstream oil long-term outlook

    PDF 1.92 MB