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8 Pages

Varo Energy leads buoyant M&A year-end: Europe downstream oil month in brief December 2016

Varo Energy leads buoyant M&A year-end: Europe downstream oil month in brief December 2016

Report summary

Fast-growing independent European downstream player, Varo Energy, leads the way in a buoyant M&A year-end, including a fuel retail acquisition and an oil storage divestment - both in the Netherlands. The company is also in advanced stages of a deal to acquire Shell's 37.5% stake in the German Schwedt refinery. Our Brent and Urals benchmark refining margins for Europe were relatively flat in November, although still near the top of the five year range. Wholesale gasoline and diesel prices declined sharply in November, supporting stronger month average retail fuel margins across Europe, particularly in the United Kingdom.

What's included?

This report includes 1 file(s)

  • Varo Energy leads buoyant M&A year-end: Europe downstream oil month in brief December 2016 PDF - 374.32 KB 8 Pages, 5 Tables, 12 Figures


The downstream short-term outlook for the fuels marketing sector is influenced by many factors: oil product demand and supply, the market structure and the dynamic relationship between wholesale and retail pump prices for refined oil products in various markets.

This Europe downstream short-term outlook report provides an update of demand trends, refining margins, fuels marketing margins and recent European fuels marketing transactions.

The report is based on in-depth research about oil product demand, prices, margins and assets in various European markets and helps downstream operators, traders and financial institutions determine product trading strategies, benchmark their assets and identify attractive investment opportunities.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information. Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Executive Summary
    • Downstream M&A activity
  • Margins
    • Refining margins
    • Fuels marketing margins
  • Demand
  • Recent M&A activity
  • Appendix

In this report there are 17 tables or charts, including:

  • Executive Summary
  • Margins
    • NWE refining margins
    • Med refining margins
    • NWE gasoline/gas oil crack spreads
    • Med gasoline/gas oil crack spreads
    • Month average gross margins - November 2016
    • Month average net margins - November 2016
    • Germany gross marketing margins
    • United Kingdom gross marketing margins
    • France gross marketing margins
    • Italy gross marketing margins
    • Margins: Table 3
  • Demand
    • Oil products demand in major European markets
  • Recent M&A activity
    • Recent transactions
  • Appendix
    • NWE jet/diesel versus gasoil
    • Med jet/diesel versus gasoil
    • NWE fuel oil crack spread
    • Med fuel oil crack spread
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