Independent operators fill up forecourts
Independent operators are taking a larger share of the filling station market across Europe, filling the void being left my major oil companies like ExxonMobil, Shell, BP, Total and Chevron which have been pulling out of less profitable retail locations to concentrate on core exploration and production functions, the latest research from CBRE shows.
As a result, independent petrol retailers now own 20pc of all petrol filling stations across Europe, compared to 16pc in 2007.
In turn, across the same period major oil companies' European market share decreased 11pc, from 43pc in 2007 to 32pc today.
Shell recently announced the potential divestment of its Italian service station portfolio and Esso recently sold 45 sites in the UK to Euro Garages in a consolidated portfolio deal this year.