ERG refining and oil products summary Report

Company Report 17 January 2017

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Report summary

ERG's focus has turned to the renewable energy segment, with the primary objective of consolidating its position in Italy while expanding in Europe through organic and acquisition-led growth, largely in wind projects. On the other hand, ERG further reduced exposure to refining by exiting ISAB and closing the Rome facility. In fuels marketing, the TotalERG retail network was further rationalised and the Sicilian and Swiss businesses divested to adapt to persistently challenging market conditions. In August 2016, Total and ERG announced their intention to divest the last retail network in mainland Italy.

Executive summary
- SWOT Analysis
- Core strategy is now focused on renewable energy
- Full exit from ISAB and closure of Rome, further reduced exposure to refining
- TotalERG's fuels marketing operations was gradually reduced with last retail network in mainland Italy now on sale
Financials
Portfolio summary
- European Refining & Marketing Operations
- Refining
- Marketing
Refining and oil products
- Supply/Demand
Mergers and acquisitions
- Recent European Acquisition/Divestment