Good Time to Be the Middle Man in the Oil Game
Oil price strength has fattened profit margins up the production, distribution and retail chains, with local refiners Viva and Ampol among those reaping the bottom-line benefits.
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Viva Energy is one of Australia’s leading energy companies. We’re proud to be Australian, proud of our 110-year history and extremely proud of our achievements.
Viva Energy help Australians reach their destinations by making, importing and delivering the fuels, lubricants, chemicals and bitumen they need to get there. We’re with workers on their daily commute and families on their school run. We’re with industry, too, helping truck drivers move freight across the country and machinery operators in the mining, aviation and marine industries.
Viva Energy own and operate the Geelong Refinery, one of only four refineries in Australia. It supplies over 10 percent of Australia’s fuel – and more than 50 percent of all the fuel used in Victoria.
Every second flight out of Victoria takes off with our locally supplied jet fuel. We make and supply the bitumen that paves Australia’s roads, runways and racetracks, and the chemicals used by industries such as mining, paint and adhesives.
Employing around 700 people and pumping millions of dollars into the local economy through wages and services, the Geelong Refinery is a vital part of Australia’s energy solution. And we’ve invested in improvements, and increasing storage capacity to ensure it will continue to be an important part of local manufacturing for years to come.
Viva Energy supply around a quarter of the country’s total liquid fuel requirements. Local production at our Geelong Refinery is supplemented with products imported through the worlds’ largest independent trader (the Vitol Group) and delivered safely and reliably nationwide through our network of more than 22 fuel import terminals around the country.
People trust our products. We are the exclusive supplier of Shell fuels and lubricants in Australia and through our network of over 1,250 service stations across the country, our high quality products are easy to find wherever you are.
Our aim is to be one of Australia’s most respected energy companies, demonstrated through our commitment to safety, care for the environment, determined with pleasing our customers, and our support for the communities in which we operate through partnerships with organisations such as the Cathy Freeman Foundation.
At Viva Energy, we’re building a company that is driven by our people. Our culture reflects the passion, pride and personality of the employees and contractors that choose to work here. Together we are committed to building Australia’s energy future.
Oil price strength has fattened profit margins up the production, distribution and retail chains, with local refiners Viva and Ampol among those reaping the bottom-line benefits.
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Viva Energy has given the go-ahead to a $300 million upgrade of its Geelong oil refinery to comply with new emissions limits and ensure the plant can continue operating.
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Australian refiners Ampol and Viva Energy say they will stop using Russian crude oil in their plants after shipments currently en route arrive, making them the country’s last two to do so.
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As the reporting season winds down, here are snippets from the results announced yesterday by Kerry Stokes-controlled Boral Limited and fuel supplier Viva Energy Group.
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A year on from the depths of the pandemic, oil refinery and service station operator Viva Energy has produced an upgrade amidst the current round of lockdowns.
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The broker retains its Outperform rating and $2.57 target price.
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UBS maintains a Buy rating, expecting the business will benefit from rising demand for fuel as travel restrictions ease. Target is raised to $2.50 from $2.45.
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Viva Energy will participate in an interim refinery production payment program provided by the Commonwealth government. CS retains a Neutral rating and raises the target to $2.03 from $1.78.
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The September quarter update was largely in line with Credit Suisse forecasts. The sustainability of the refinery is a large issue that the broker believes is not sufficiently embedded in investor thinking.
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