Baltic Export, Energy, Estonia, EU – Baltic States, Markets and Companies

While the retail and wholesale units of international chains Neste and Statoil increased sales last year by 11% to 188.8 million euros and 194.4 million euros respectively, Olerex's turnover grew last year by 50% to 151 million euros. Olerex's profit was 1.62 million euros versus 1.58 million in 2010. The profit of Neste was 3.32 million euros versus 4.88 million euros in 2010 and the profit of Statoil 0.52 million versus 0.35 million euros in 2010.

"We have increased turnover in the main field of operations, retail sale of motor fuels but also in wholesales thanks to large state procurements," commented Olerex's marketing manager and one of its two owners Antti Moppel.

According to Wood Mackenzie, the leader of motor fuels retail sale was Statoil at the end of last year, with 26.4 percent, followed by Neste with 23.6 percent. Alexela Oil and Olerex were on the third and fourth positions with market shares of 14.5 and 14 percent respectively, while Olerex's market share has grown by half a percentage point in a year, reported LETA.