Refining

Tamoil has three refineries, one in Italy (Cremona), one in Germany (Hamburg) and one in Switzerland (Collombey).

With a total nominal capacity of 255,000 barrels per day, the Group’s 3 refineries process more than 10 million metric tons annually.

The Group pursues investment programmes on a continuous basis to comply with increasingly stringent product specifications and environmental obligations, as well as to enhance its position in the refining industry.

The Group is increasingly focusing on initiatives to protect its results and return on capital employed as crude oil remains extremely volatile and margins are continuously under pressure.

Group refinery production is constituted by more than 50% of middle distillates and around 30% of light distillates.

Refined products are distributed and marketed through the Tamoil retail network and wholesale channels.

The wholesale market includes major oil companies, independent wholesale customers, large industrial consumers, heating oil sellers, garages and exports.

Tamoil’s products sales in 2009 amounted to 13.1 million tons. Of this, 4.0 million tons was through its retail network. The remaining 9.1 million tons was sold through wholesale channels.