BP reduces their presence in the Spanish retailing market

British Petroleum (BP) has suffered a set-back in their retailing business in Spain as 43 of their service stations closed down last year, reported El Economista.

Data published by the Spanish Association of Oil Product Operators reveals BP is the retailer which has suffered the biggest losses in 2014. At the start of last year it operated a network of 680 gas stations, while it now holds 637, a reduction of 6.3%

BP´s weakened presence in the Spanish retailing market is now worsened by the latest Government regulation - published last week - which seeks to aid small retailers, increase competition and eventually reduce the share of the market currently being held by leading distributors.

The Spanish fuel retailing market’s decreased sales in recent years has seen all three main distributors (Repsol, Cepsa and BP) reduce their number of service stations for the first time.

The leading distributor in Spain, Repsol, now operates 3,585 service stations in the country, down from 3,615 in 2014 – that is 30 stations less in a year. However, they still control a substantial part of the Spanish market with a 36.6 per cent share.

In contrast, Cepsa has actually increased their service outlets from 1,470 to 1,477 during the last year, but they´ve experienced a significant drop since 2012, when they operated 1,516 gas stations across the country.