Germany Shows the Largest Oil Production Rates in the EU

Basic Chemicals February 10, 2016
Author: Alla Yakimova
Market Analyst

From 2007 to 2014, EU oil production demonstrated mixed dynamics, finally rising from 5.0 million tonnes in 2007 to 6.7 million tonnes in 2014. It expanded with a CAGR of +4.2% over the period under review. In value terms, EU oil production reached 17.2 billion EUR in 2014, growing by +2.3% annually.

Germany was the largest producer of oils in absolute volumes, with 1.3 million tonnes. It was distantly followed by Sweden (267 thousand tonnes) and Portugal (249 thousand tonnes).

Positive dynamics in oil production among the main producing countries from 2007 to 2014 were recorded in Sweden (+3.0% per year), while for the other two EU leaders (Germany and Portugal) the paces of growth were negative.

Germany dominated in EU oil production and trade. In 2014, it exported the lion's share of its total oil output. Of this amount, 65% was supplied to the Netherlands, where Germany's oil held a 34% share of the Netherlands' total imports.

Source: EU: Oils And Other Products Of The Distillation Of High Temperature Coal Tar - Market Report. Analysis And Forecast To 2020