Oil Companies: Extension Until December 2026 of Weekly Reporting to CNMC

Key data

Major oil companies with refining in Spain will not be able to ease their reporting burden to the CNMC: the Council of Ministers has extended until December 31, 2026 the obligation to report weekly on acquisition costs and fuel selling prices. The measure is based on Royal Decree-Law 7/2026, of March 20, approved under the Comprehensive Response Plan to the Crisis in the Middle East, motivated by the conflict with Iran and its impact on oil prices.

The extension is published through a Resolution of the State Secretariat for Energy in the BOE of June 19, 2026 and enters into force on the same day.

What does this regulation establish?

Article 28.2 of Royal Decree-Law 7/2026 imposed on wholesale fuel operators with refining capacity in Spain the obligation to submit weekly to the CNMC two types of data:

• Acquisition costs of crude oil and raw materials used in fuel production.
• Selling prices to service stations.

The stated objective is for the CNMC to assess whether margins in fuel distribution are appropriate and whether there is effective competition in the market. The CNMC already published a preliminary report in May 2026, but concluded that the analyzed period was insufficient to draw structural conclusions about market competition.

Given this data insufficiency, the Council of Ministers has decided to extend the deadline until December 31, 2026, in order to accumulate longer time series that allow for robust analysis.

Economic and operational impact

For the affected wholesale operators, the extension means keeping active the internal systems for data extraction, consolidation and submission to the CNMC for at least an additional six months. This implies:

• Continued administrative cost: compliance, IT and finance teams must maintain weekly data flows without interruption.
• Greater regulatory exposure: the more data the CNMC accumulates, the higher the probability of identifying margin patterns or behaviors that could lead to investigations for anticompetitive practices.
• Risk of structural regulatory change: if the analysis of the complete time series concludes that margins are excessive or competition is insufficient, the Government could adopt additional measures on prices or the structure of the fuel distribution market.

For service stations, the impact is indirect but relevant: greater transparency on wholesale prices can strengthen their negotiating position against wholesale operators and, in the medium term, favor more competitive supply conditions if the CNMC detects anomalies.

Who does it affect?

• Wholesale fuel operators with refining capacity in Spain: they are the direct obligated parties. They must report weekly to the CNMC costs and prices until December 31, 2026.
• Service stations: affected indirectly as recipients of the wholesale selling prices that are reported. Greater transparency can influence commercial conditions in the sector.
• Compliance, legal and financial departments of oil companies with refining in Spain: must ensure continuity of the weekly reporting process.
• Advisors and consultants in the energy sector: must incorporate this extension in their regulatory risk analyses for sector clients.

Practical example

An oil company with refining capacity in Spain had sized its compliance team assuming that the obligation to report weekly to the CNMC would end before the summer of 2026. With the extension approved on June 16, that company must keep its reporting process operational—extraction of acquisition cost data, calculation of selling prices to service stations and weekly submission to the CNMC—for at least an additional six months, until December 31, 2026.

Furthermore, given that the CNMC already published a preliminary report in May 2026 noting that the analyzed period was insufficient, the company must anticipate that the data it reports between June and December will be subject to more exhaustive analysis. If that analysis detects high margins or behaviors that limit competition, the company could face a formal investigation by the CNMC.

What should companies do now?

1. Confirm continuity of the weekly reporting process: verify that internal systems for data extraction and submission to the CNMC remain active and have not been deactivated or rescheduled to cease before December 31, 2026.
2. Review the quality and consistency of reported data: given that the CNMC will accumulate a longer time series, any inconsistency in historical data can be detected and questioned. Conduct an internal audit of reports already sent.
3. Evaluate regulatory risk: the legal department should analyze whether the reported margins and prices could be subject to scrutiny for anticompetitive practices, and prepare a defensive position if necessary.
4. Inform management and the CFO: the extension implies additional operating costs and elevated regulatory risk. Management must be aware to make strategic decisions if the CNMC initiates a formal investigation.
5. Monitor publication of the CNMC's final report: the preliminary report from May 2026 was not conclusive. The final report, which will be prepared with data from the complete series, may have direct regulatory consequences. Monitor its publication.

Official source

Consult complete regulation in official source

Notice: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-13357