41% Micro
30% Small
11% Large
10% Mega
8% Mid
INSIGHTS - MARCH 2025
UK Fuel Refining Industry
UK Fuel Refining Industry Information
The oil refining industry transforms crude oil into products such as petroleum, gasoline, diesel, asphalt, heating oil, kerosene, liquefied petroleum gas, jet fuel, fuel oils or coke.
Active Businesses
204
Annual Sales
£45bn +
Employees
7,828
Economic Contribution
£2bn
Tags
Location of Fuel Refining Companies
Fuel Refining Companies by Size
Largest Fuel Refining Companies
Turnover
Phillips 66 Limited
£17.8bn
Essar Oil (Uk) Limited
£7.4bn
Bp Oil Uk Limited
£6.5bn
Fuel Refining Companies by Age
30% Mature
28% Young
21% Established
21% Startup
Oldest Fuel Refining Companies
Established
Fastest Growing Fuel Refining Companies
29% Healthy
24% High
24% Rapid
18% Declining
5% Low
Fastest Growing Fuel Refining Companies
3yr CAGR
Fuel Refining Industry Competitive Environment - New Entrants vs Leavers
Fuel Refining Industry Valuation
EBITDA Multiple
Fuel Refining Industry Valuation
Turnover Multiple
Fuel Refining Industry Valuation
Net Asset Multiple
Note - from March 2020 multiples are calculated monthly, prior to this they were calculated on an annual basis.
UK Manufacture of coke and refined petroleum products Industry Insights
There are 204 active Businesses in the UK with combined annual sales of £45 billion .
The Industry employs around 7,827 people and contributes £2 billion to the economy.
The most popular location for Fuel Refining companies is London with 52 and the fewest are located in Wales with 4.
The largest Fuel Refining company is Phillips 66 Limited with a turnover of £17.8bn. 41% of the industry is comprised of Micro companies with only 11% Large companies.
21% of the Fuel Refining Industry is made up of 21% Established but the majority are Mature businesses (30%) the oldest company is Esso Petroleum Company,limited founded in 1888.
Fuel Refining industry has a number of high growth companies (18%), the fastest growing company is Tupras Trading Ltd with a 3 year growth rate of 325%. Other fast growing companies include Lubricants Uk Limited (48%), Esso Petroleum Company,limited (38%) and Bp Oil Uk Limited (34%).
The UK Fuel Refining Industry’s valuation has been improving over the past 3 years with a current EBITDA multiple of 6.63x, Turnover multiple of 1.03x and a Net Asset multiple of 2.19x.
