The European Oil Refining Market Outlook: Industry analysis, key trends and country profiles

The European Oil Refining Market Outlook: Industry analysis, key trends and country profiles

Europe s downstream industry is experiencing changes in fuel consumption patterns. Demand for middle distillates is growing faster than any other major refined product. In addition, in Western Europe there has been a strong push for diesel-fueled passenger vehicles driven by fuel prices and taxes. This has also led to gasoline demand in Western Europe falling for the last seven years, producing surpluses of gasoline and blended stocks. In recent years, poor returns have made it unprofitable to invest in upgrading refineries to process different crude oils, which will be necessary as North Sea production declines The European Oil Refining Market Outlook is a new report published by Business Insights that analyzes the current dynamics of the European Refining Sector with a particular focus on the 21 major European countries. This new report details the key trends, analyzes the upgrading capacities of each of the respective countries and examines key issues confronting the industry. Assess the European oil refining market, anticipate future market trends and create successful product strategies with this new report.

Table of Contents
The European Oil Refining Market Outlook
Executive Summary 12
European oil demand and pricing 13
Refinery analysis 14
Industry trends 15
Country profiles 16
Chapter 1 European oil demand and pricing 18
Summary 18
Introduction 19
Oil product consumption by country 19
All products 20
Gasoline 22
Gas/diesel oil 25
Fuel oil 26
Kerosene 28
LPG & Ethane 30
Naphtha 32
Oil product prices and taxation 35
Motor gasoline for industry 35
Diesel (road) for industry 37
The diesel gasoline tax differential 39
Price tourism 40
Chapter 2 Refinery analysis 44
Summary 44
Introduction 45
Refinery processing trends 45
Refinery input 45
Refinery output 46
Refinery processing gain/loss 47
Refining capacity and product demand 48
Upgrading by country 48
Barriers to exit 50
Impact of refining technologies 51
Rotterdam spot prices 53
Chapter 3 Industry trends 56
Summary 56
Introduction 57
Maturing North Sea production assets 57
Fluctuating refining margins 59
Changing consumption patterns 60
Increasing awareness of biofuels 61
Tightening environmental legislations 63
Shortage of upgrading capacity 64
Industry consolidation 65
Chapter 4 Country Profiles 68
Summary 68
Introduction 69
Austria 70
Refinery capacities 70
Product sales 71
Future developments 72
Belgium 73
Refinery capacities 73
Product sales 75
Future developments 76
Czech Republic 77
Refinery capacities 77
Product sales 78
Future developments 80
Denmark 81
Refinery capacities 81
Product sales 82
Future developments 84
Finland 85
Refinery capacities 85
Product sales 86
Future developments 87
France 88
Refinery capacities 88
Product sales 90
Future developments 91
Germany 93
Refinery capacities 93
Product sales 95
Future developments 96
Greece 98
Refinery capacities 98
Product sales 99
Future developments 101
Hungary 102
Refinery capacities 102
Product sales 102
Future developments 103
Ireland 104
Refinery capacities 104
Product sales 104
Future developments 106
Italy 107
Refinery capacities 107
Product sales 109
Future developments 111
Netherlands 112
Refinery capacities 112
Product sales 113
Future developments 115
Norway 116
Refinery capacities 116
Product sales 117
Future developments 118
Poland 119
Refinery capacities 119
Product sales 120
Future developments 121
Portugal 123
Refinery capacities 123
Product sales 123
Future developments 125
Romania 126
Refinery capacities 126
Product sales 127
Future developments 128
Slovakia 129
Refinery capacities 129
Product sales 129
Future developments 130
Spain 132
Refinery capacities 132
Product sales 133
Future developments 134
Sweden 136
Refinery capacities 136
Product sales 137
Future developments 138
Switzerland 140
Refinery capacities 140
Product sales 141
Future developments 143
United Kingdom 144
Refinery capacities 144
Product sales 146
Future developments 147
Index 149
GLOSSARY 151
BIBLIOGRAPHY 153
Industry/regulatory bodies 153
Publications 153
List of Figures
Figure 1.1: Consumption of all refined products in Europe, by region and country, 1990-2006 21
Figure 1.2: Consumption of gasoline in Europe, by region and country, 1990-2006 23
Figure 1.3: Consumption of gas/diesel oil in Europe, by region and country, 1990-2006 25
Figure 1.4: Consumption of fuel oil in Europe, by region and country, 1990-2006 27
Figure 1.5: Consumption of kerosene in Europe, by region and country, 1990 - 2006 29
Figure 1.6: Consumption of LPG and ethane in Europe, by region and country, 1990-2006 31
Figure 1.7: Consumption of naphtha in Europe, by region and country, 1990-2006 33
Figure 1.8: Taxation and pricing of gasoline, by core country, 2006 36
Figure 1.9: Taxation and pricing for diesel, by country, 2004-2006 38
Figure 1.10: The diesel gasoline tax differential, 2004-2006 39
Figure 1.11: Opportunities for price tourism in Europe, 2006 42
Figure 2.12: Crude distillation capacity vs. upgrading ratio, by country, 2006 48
Figure 2.13: Rotterdam prices of major oil products ($/tonne), 2000-2006 54
Figure 3.14: Refining margins for NW Europe 59
Figure 4.15: Oil product consumption in Austria, 2006 72
Figure 4.16: Refineries, capacities and upgrading in Belgium, 2006 74
Figure 4.17: Oil product consumption in Belgium, 2006 76
Figure 4.18: Refineries, capacities and upgrading in Czech Republic, 2006 78
Figure 4.19: Oil product consumption in Czech Republic, 2006 79
Figure 4.20: Refineries, capacities and upgrading in Denmark, 2006 82
Figure 4.21: Oil product consumption in Denmark, 2006 83
Figure 4.22: Refineries, capacities and upgrading in Finland, 2006 86
Figure 4.23: Oil product consumption in Finland, 2006 87
Figure 4.24: Refineries, capacities and upgrading in France, 2006 89
Figure 4.25: Oil product consumption in France, 2006 91
Figure 4.26: Refineries, capacities and upgrading in Germany, 2006 95
Figure 4.27: Oil product consumption in Germany, 2006 96
Figure 4.28: Refineries, capacities and upgrading in Greece, 2006 99
Figure 4.29: Oil product consumption in Greece, 2006 100
Figure 4.30: Oil product consumption in Hungary, 2006 103
Figure 4.31: Oil product consumption in Ireland, 2006 105
Figure 4.32: Refineries, capacities and upgrading in Italy, 2006 109
Figure 4.33: Oil product consumption in Italy, 2006 110
Figure 4.34: Refineries, capacities and upgrading in the Netherlands, 2006 113
Figure 4.35: Oil product consumption in the Netherlands, 2006 114
Figure 4.36: Refineries, capacities and upgrading in Norway, 2006 117
Figure 4.37: Oil product consumption in Norway, 2006 118
Figure 4.38: Refineries, capacities and upgrading in Poland, 2006 120
Figure 4.39: Oil product consumption in Poland, 2006 121
Figure 4.40: Oil product consumption in Portugal, 2006 124
Figure 4.41: Refineries, capacities and upgrading in Romania, 2006 127
Figure 4.42: Oil product consumption in Slovakia, 2006 130
Figure 4.43: Refineries, capacities and upgrading in Spain, 2006 133
Figure 4.44: Oil product consumption in Spain, 2006 134
Figure 4.45: Refineries, capacities and upgrading in Sweden, 2006 137
Figure 4.46: Oil product consumption in Sweden, 2006 138
Figure 4.47: Refineries, capacities and upgrading in Switzerland, 2006 141
Figure 4.48: Oil product consumption in Switzerland, 2006 142
Figure 4.49: Refineries, capacities and upgrading in United Kingdom, 2006 145
Figure 4.50: Oil product consumption in United Kingdom, 2006 147
List of Tables
Table 1.1: Consumption of all refined oil products in Europe, by region and country, 1990-2006 22
Table 1.2: Consumption of gasoline in Europe, by region and country, 1990-2006 24
Table 1.3: Consumption of gas/diesel oil in Europe, by region and country, 2004-2006 26
Table 1.4: Consumption of fuel oil in Europe, by region and country, 2004-2006 28
Table 1.5: Consumption of kerosene in Europe, by region and country, 2004-2006 30
Table 1.6: Consumption of LPG and ethane in Europe, by region and country, 2004-2006 32
Table 1.7: Consumption of naphtha in Europe, by region and country, 2004-2006 34
Table 1.8: Taxation and pricing for motor gasoline, by country, 2004-2006 37
Table 1.9: Taxation and pricing for diesel, by country, 2004-2006 38
Table 1.10: The diesel gasoline differential, 2004-2006 40
Table 2.11: Refinery input, by country (tonnes m), 1990-2006 46
Table 2.12: Refinery output by country (tonnes m), 1990-2006 47
Table 2.13: Crude distillation capacity vs. upgrading ratio, by country, 2006 49
Table 2.14: Rotterdam prices of major oil products, (US$/tonne), 2000-2006 54
Table 3.15: Biodiesel production, by country (m tonnes), 2005 61
Table 3.16: Bioethanol production, by country (m gallons), 2005 62
Table 4.17: Refineries, capacities and upgrading in Austria, 2006 70
Table 4.18: Oil product consumption in Austria (m tonnes), 1990-2006 71
Table 4.19: Refineries, capacities and upgrading in Austria, 2006 74
Table 4.20: Oil product consumption in Belgium (m tonnes), 1990-2006 75
Table 4.21: Refineries, capacities and upgrading in Czech Republic, 2006 77
Table 4.22: Oil product consumption in Czech Republic (m tonnes), 1990-2006 79
Table 4.23: Refineries, capacities and upgrading in Denmark, 2006 81
Table 4.24: Oil product consumption in Denmark (m tonnes), 1990-2006 83
Table 4.25: Refineries, capacities and upgrading in Finland, 2006 85
Table 4.26: Oil product consumption in Finland (m tonnes), 1990-2006 87
Table 4.27: Refineries, capacities and upgrading in France, 2006 89
Table 4.28: Oil product consumption in France (m tonnes), 1990-2006 90
Table 4.29: Refineries, capacities and upgrading in Germany, 2006 94
Table 4.30: Oil product consumption in Germany (m tonnes), 1990-2006 96
Table 4.31: Refineries, capacities and upgrading in Greece, 2006 98
Table 4.32: Oil product consumption in Greece (m tonnes), 1990-2006 100
Table 4.33: Refineries, capacities and upgrading in Hungary, 2006 102
Table 4.34: Oil product consumption in Hungary (m tonnes), 1990-2006 103
Table 4.35: Refineries, capacities and upgrading in Ireland, 2006 104
Table 4.36: Oil product consumption in Ireland (m tonnes), 1990-2006 105
Table 4.37: Refineries, capacities and upgrading in Italy, 2006 108
Table 4.38: Oil product consumption in Italy (m tonnes), 1990-2006 110
Table 4.39: Refineries, capacities and upgrading in the Netherlands, 2006 112
Table 4.40: Oil product consumption in the Netherlands (m tonnes), 1990-2006 114
Table 4.41: Refineries, capacities and upgrading in Norway, 2006 116
Table 4.42: Oil product consumption in Norway (m tonnes), 1990-2006 118
Table 4.43: Refineries, capacities and upgrading in Poland, 2006 119
Table 4.44: Oil product consumption in Poland (m tonnes), 1990-2006 121
Table 4.45: Refineries, capacities and upgrading in Portugal, 2006 123
Table 4.46: Oil product consumption in Portugal (m tonnes), 1990-2006 124
Table 4.47: Refineries, capacities and upgrading in Romania, 2006 126
Table 4.48: Oil product consumption in Romania (m tonnes), 1992-2004 127
Table 4.49: Refineries, capacities and upgrading in Slovakia, 2006 129
Table 4.50: Oil product consumption in Slovakia (m tonnes), 1990-2006 130
Table 4.51: Refineries, capacities and upgrading in Spain, 2006 132
Table 4.52: Oil product consumption in Spain (m tonnes), 1990-2006 134
Table 4.53: Refineries, capacities and upgrading in Sweden, 2006 136
Table 4.54: Oil product consumption in Sweden (m tonnes), 1990-2006 138
Table 4.55: Refineries, capacities and upgrading in Switzerland, 2006 140
Table 4.56: Oil product consumption in Switzerland (m tonnes), 1990-2006 142
Table 4.57: Refineries, capacities and upgrading in the United Kingdom, 2006 145
Table 4.58: Oil product consumption in United Kingdom (m tonnes), 1990-2006 146