BP’s refined products markets
In this part, we’ll examine the geographical spread of BP’s (BP) refined product sales. Europe is BP’s largest market, accounting for 42% of its total refined products sold. The United States follows with ~41% of its total refined products sold, and Other zones contribute ~17%.
In 3Q16, BP’s sale of refined products in the US and Other zones rose 7% and 5%, respectively, over 3Q15, However, they fell 3% YoY in Europe.
In 3Q16, BP’s peer ExxonMobil’s (XOM) largest market was the United States (~42%), followed by Europe (~28%). However, Chevron (CVX) sold 46% of its refined products in the US in the third quarter. Royal Dutch Shell’s (RDS.A) largest market was North America and South America, accounting for 38% of its refined products sold in 3Q16.
The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has ~6% exposure to integrated energy sector stocks.