Petroineos

What Petroineos does

Petroineos is an integrated refining and energy trading joint venture between PetroChina International London (PCIL) and INEOS Group, formed in 2011 when PCIL invested $1 billion into INEOS' European refining business. The company operates two business lines: Refining and Trading. The Refining segment historically comprised the Lavera refinery in southern France (210,000 barrels per day, ~10 million tonnes per year) and the Grangemouth refinery in Scotland; however, Grangemouth ceased refining operations in April 2025 after a century of activity and was converted into a fuel import and distribution terminal, leaving Lavera as the sole refining asset. Refinery output includes LPG, naphtha, gasoline, diesel, jet fuel, kerosene, gas oil, fuel oil, and bitumen.

The Trading segment covers crude oil (with established positions in West African, Mediterranean, and North Sea grades), refined products, biofuels (entered in 2016), power and emissions (entered in 2014), and shipping/chartering services. The trading platform reports annual volumes exceeding 70 million tonnes and trading revenue above $30 billion, with the mandate to supply PetroChina's domestic Chinese crude demand and serve European and African markets. Distribution relies on multi-modal logistics — pipelines (SPMR, NATO from Lavera), marine jetties accommodating vessels up to 500,000 tonnes, road, rail, and a 3.7 million m³ storage network.

Petroineos serves B2B counterparties including industrial customers, airlines (Edinburgh, Glasgow, Aberdeen, Newcastle, Marseille, Nice, Geneva airports), petrochemical companies, power utilities, marine bunker operators, and wholesale fuel distributors across Scotland, Northern England, Northern Ireland, France, Switzerland, and southern Germany. Wholesale distribution in the UK is conducted through Petroineos Fuels Limited. The company employs approximately 650 people across manufacturing, maintenance, trading, logistics, and support functions. Revenue is generated through commodity trading margins and refined product sales at market-linked pricing, with no public disclosure of unit economics.

Name

Petroineos

Legal name

Petroineos Trading Limited

Website

https://petroineos.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Petroineos is a PetroChina–INEOS joint venture that operates the Lavera oil refinery in France and the Grangemouth fuel import terminal in Scotland, while trading crude oil, refined products, biofuels, and power & emissions globally with annual trading volumes above 70 million tonnes.

Ownership category

akta.pro rank

Product category

Oil Refining and Energy Trading

NAICS

Petroleum Refineries (32411), Petrochemical Manufacturing (325110), Basic Chemical Manufacturing (3251), Pipeline Transportation of Refined Petroleum Products (486910)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Naphtha & Reformate Feedstocks (EUALAHAB)

akta.pro secondary industry

Olefins (Ethylene, Propylene, Butadiene) (EUALAHAD)

Keywords

• Crude oil refining
• Energy trading
• Fuel distribution
• Oil products trading
• Petroleum refining

Headquarters

HQ city

Grangemouth

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Energy Trading: Trading of crude oil, refined products (gasoline, diesel, jet fuel, LPG, naphtha, fuel oil), power & emissions allowances, and biofuels. Annual trading volume exceeds 70 million tonnes with trading revenue exceeding $30 billion. Trading divisions cover crude, refined products, and power & emissions.
2. Refining Operations: Crude oil refining at Lavera refinery (210,000 barrels per day capacity) producing refined products including LPG, gasoline, diesel, jet fuel, gas oil, fuel oil, and bitumen. Grangemouth transitioned to fuel import terminal in April 2025.
3. Wholesale Fuel Distribution: Marketing and distribution of refined fuels (Regular and Super Unleaded gasoline, Diesel, Kerosene, Jet Fuel, Gas Oil) throughout Scotland, Northern England, and Northern Ireland via Petroineos Fuels Limited wholesale business.
4. Biofuel Trading: Trading of biodiesel and bioethanol since 2016, with Petroineos having grown to become one of the leading biodiesel traders in Europe.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Petroineos is an integrated refining and energy trading company that operates the Lavera refinery in France (210,000 barrels per day capacity) and the Grangemouth fuel import terminal in Scotland. The company trades crude oil, refined products (gasoline, diesel, jet fuel, LPG, naphtha, fuel oil, bitumen), biofuels, and power and emissions allowances, with annual trading volume exceeding 70 million tonnes and trading revenue over $30 billion.

Product overview

Petroineos is an integrated refining and energy trading company operated as a joint venture between PetroChina and INEOS, established in 2011. The company operates a unified platform combining two business units: Refining Operations (including the Lavera refinery in France and the Grangemouth import terminal in Scotland) and Trading (encompassing Crude Oil, Refined Products, Power & Emissions, and Shipping divisions). The refining operations process crude oil into petroleum products including LPG, naphtha, gasoline, jet fuel, kerosene, diesel, gas oil, fuel oil, and bitumen. The trading division trades crude oil, refined products, biofuels, power, emissions allowances, and provides shipping/chartering services. The company processes over 420,000 barrels of crude oil per day with annual trading volume exceeding 70 million tonnes and trading revenue in excess of $30 billion. Products are distributed through the Petroineos Fuels Limited wholesale business and via multiple logistics channels including road, rail, pipeline, and sea transport.

Differentiator

Problem solved

Functional benefit

Products and services

• Refining Operations Petroineos operates refining facilities that process crude oil into finished petroleum products. The company operates the Lavera refinery in France (210,000 barrels per day capacity, approximately 10 million tonnes per year) and transitioned the Grangemouth facility in Scotland to a fuel import and distribution terminal in April 2025. Refining output includes LPG, gasoline, diesel, jet fuel, kerosene, gas oil, fuel oil, naphtha, and bitumen.
• Crude Oil Trading Crude oil trading division with established presence in West African, Mediterranean, and North Sea crude oil markets. The team sources crude grades for refineries and has the mandate to supply PetroChina's domestic crude oil demand while supporting overseas upstream projects.
• Refined Products Trading Trading of a full range of refined oil products including LPG, gasoline, diesel, jet fuel, kerosene, naphtha, fuel oil, and biodiesel across European and African markets. Includes trading services to meet PetroChina's domestic import and export requirements.
• Power and Emissions Trading Trading of power, transmission capacity, and environmental products including EUA allowances and renewable certificates (guarantees of origin and ROC certificates). Trades on all major European power exchanges including UK, France, and Germany.
• Shipping and Transportation Services Logistics and distribution services for shipping energy products globally. Chartering services for crude oil, oil products, and LNG using vessels ranging from 1,000 tonne barges to VLCCs (very large crude carriers).
• Biofuel Trading Trading of biodiesel and bioethanol as liquid transport fuels made from biomass serving as renewable alternatives to fossil fuels.
• Wholesale Fuel Distribution Fuels marketing and distribution through Petroineos Fuels Limited wholesale business, distributing Regular and Super Unleaded gasoline, Diesel, Kerosene, Jet Fuel, and Gas Oil throughout Scotland, Northern England, and Northern Ireland. Logistics via terminal loading gantry, road transport, pipeline, and ship from Grangemouth terminal and Lavera refinery access via pipelines (SPMR, NATO), sea, river, road, and railway.
• Bitumen Production Major bitumen production at Lavera covering normal paving grade (20/30 to 160/220 penetrability), hard paving grade (10/20 to 15/25), and multigrades (35/50 penetrability) for construction and infrastructure use.

Quantifiable outcome

• Trading revenue exceeds $30 billion annually with trading volume of 70+ million tonnes
• +2 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Gunvor Group: Privately-held global commodity trader with owned refining assets and integrated crude/products trading. Closest analog to Petroineos in combining mid-sized refining with a major trading franchise, competing for similar European and Mediterranean flows.
• Vitol: World's largest independent oil trader handling hundreds of millions of tonnes annually. Competes head-to-head with Petroineos in European crude and refined products trading, with similar B2B client base and growing presence in biofuels and emissions.
• Trafigura: Global commodity trader with significant European refining/marketing footprint and trading in crude, products, and increasingly metals/power. Directly comparable trading scale and geographic overlap with Petroineos' European/African operations.
• Mercuria Energy Trading: Privately-held global energy and commodities trader active in crude, refined products, and increasingly biofuels and emissions. Comparable mid-sized integrated trading house competing for similar flows and counterparties in Europe and Africa.

Broad incumbents

• TotalEnergies: French integrated oil major with significant European refining, trading, and marketing. Operates in overlapping geographies (France, Switzerland, Southern Germany) and competes with Petroineos on jet fuel, diesel, and LPG supply at Marseille/Nice airports and adjacent markets.
• Eni: Italian integrated oil major with refining and trading operations across the Mediterranean. Competes in similar naphtha, jet fuel, and gas oil markets, with shared exposure to Southern European refining economics.
• Repsol: Spanish integrated energy company with Mediterranean refining and trading. Overlaps with Petroineos in Iberian and Southern European refined products markets and increasingly in low-carbon fuels.
• BP: Former owner of Grangemouth and Lavera refineries (sold to INEOS in 2005) and one of the largest integrated oil majors. Competes with Petroineos across crude sourcing, refined products, and increasingly biofuels/electricity in European markets.
• Shell: Global integrated oil major with major European refining footprint and trading operations. Direct competitor across UK and European road fuels, jet fuel, marine bunker, and increasingly power/emissions markets.

Emerging players

• Cepsa: Spanish integrated energy company (now backed by Mubadala) with refining and growing biofuels/chemicals activities. Smaller and more regional than majors but competes with Petroineos in Iberian Mediterranean refined products and increasingly renewable fuels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/petroineos-trading-limited
• Xx.com/PetroineosGM

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petroineos