Commodity Market Report

Spain downstream oil long-term outlook

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28 September 2018

Spain downstream oil long-term outlook

Report summary

Oil demand in Spain is expected to continue to recover until 2020, mostly in transport fuels, before gradually declining as the economy stabilises. A number of important Spanish refinery investment projects were completed in recent years, aimed at addressing Iberia's structural middle distillate deficit and fuel oil surplus. Market leaders Repsol and CEPSA will defend their fuels marketing positions, although the competitive landscape could be shaken up if regulators impose more restrictions on the dominant players and low cost fuel retailers, such as hypermarkets and automated site operators, increase their presence. Although margins are some of the highest in Europe, there is a strong drive among the top five players to increase their non-fuel retail offerings, particularly through partnerships with convenience retailers such as Carrefour and El Corte Ingles.

Table of contents

    • Market drivers
    • Outlook
    • Regulatory issues
    • Product quality
    • Gasoline
    • Jet kerosene
    • Gas/diesel oil
    • Fuel oil
  • Trade
    • Volumes
    • Discount fuel outlets
      • Hypermarkets
      • Automats
      • Cooperatives
    • International oil companies
      • Repsol
      • Cepsa
      • BP
      • Galp
    • Independent groups
    • Network efficiency
    • Performance pacesetters in the retail market
    • Non-fuel retailing
    • Motor fuels (gasoline and diesel)
    • Industrial/domestic gas oil
    • Aviation kerosene
    • Heavy fuel oil
    • Marine bunkers
    • LPG
    • Lubricants
    • Bitumen
    • Key issues influencing net profitability
      • Retail fuels marketing
    • Marketing gross fuel margins
      • Main products: monthly unit gross margins 2011 - 2018
      • Main products: annual average unit gross margins
    • Marketing net profitability
    • Distribution of oil products
      • CLH shareholders as of 2017
      • Independent storage facilities
    • Crude oil delivery
    • Country crude slate overview
      • Crude input slate - 2017
    • Refining overview

Tables and charts

This report includes 45 images and tables including:

  • Key demand indicators
  • Total demand
  • Annual demand change
  • Demand by product
  • Demand by sector
  • Trade balance 2010 - 2017
  • Trade: Table 1
  • Gasoline trade
  • Trade: Table 2
  • Jet/Kero trade
  • Trade: Table 3
  • Diesel/Gasoil trade
  • Trade: Table 4
  • Fuel oil trade
  • Trade: Table 5
  • Storage and distribution infrastructure
  • Car parc by fuel type
  • Gas/diesel oil demand by sector
  • Fuel oil by sector
  • Demand forecast (kt)
  • Retail fuel volumes
  • Retail outlets by brand
  • Retail market shares
  • Network size and throughput per site
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Commercial diesel volumes
  • Margins: Table 2
  • Means of primary distribution
  • Pipeline capacity and ownership
  • Castellon refinery profile
  • Infrastructure: Table 6
  • Infrastructure: Table 7
  • Infrastructure: Table 8
  • Infrastructure: Table 9
  • Infrastructure: Table 10
  • Infrastructure: Table 11
  • Infrastructure: Table 12
  • Tarragona refinery profile
  • Margins: Image 1
  • Margins: Table 1
  • Infrastructure: Table 1
  • CLH storage facilities as of end 2017
  • Infrastructure: Table 3
  • Infrastructure: Image 3
  • Infrastructure: Image 4

What's included

This report contains:

  • Document

    Spain downstream oil long-term outlook

    PDF 1.20 MB

  • Document

    Executive summary

    PDF 682.50 KB

  • Document

    Policy and regulation

    PDF 679.23 KB

  • Document

    Demand

    PDF 746.88 KB

  • Document

    Trade

    PDF 742.83 KB

  • Document

    Market structure

    PDF 814.96 KB

  • Document

    Margins

    PDF 728.12 KB

  • Document

    Infrastructure

    PDF 999.12 KB