Future of refinery hangs in balance

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 15-Oct-20

Viva Energy’s Geelong refinery in Victoria has posted a loss of $30m for the September quarter, following a loss of nearly $50m in the first half of 2020. Viva will seek to boost cash flow at the refinery by reducing or deferring non-essential spending at the plant. The federal government’s $2.5 billion fuel security package may be crucial to the future of the refinery. Viva will provide an update on the outlook for the plant in December.

CORPORATES
VIVA ENERGY GROUP LIMITED – ASX VEA

Viva Energy mulls real estate trust spin-off

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 19-Aug-15

Viva Energy intends to spend $A1 billion on investments. Viva CEO Scott Wyatt said on 18 August 2015 that the company will consider the creation of a real estate trust which would hold about 420 properties. Proceeds from the float would be channelled into the Geelong refinery, the supply chain and the marketing business.

CORPORATES
VIVA AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BANK OF AMERICA MERRILL LYNCH, CALTEX AUSTRALIA LIMITED – ASX CTX, COLES EXPRESS, VITOL SA, ABU DHABI INVESTMENT COUNCIL, DEUTSCHE BANK AG

Wholesalers defend fuel pricing strategies

Original article by Peter Ker
The Australian Financial Review – Page: 21 : 8-Jan-15

The Australian Government has ordered a review of Australia’s fuel pricing system. The Australian Competition & Consumer Commission will monitor oil companies for three years. Viva Energy CEO Scott Wyatt said on 7 January 2015 that the pricing system works well. It is transparent and fast enough to ensure that savings resulting from lower oil prices are promptly passed on to retailers and motorists, he argued

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, VIVA ENERGY AUSTRALIA LIMITED, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED, EXXONMOBIL AUSTRALIA PTY LTD, 7-ELEVEN STORES PTY LTD, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, ROYAL AUTOMOBILE CLUB OF VICTORIA (RACV) LIMITED, AUSTRALIA. DEPT OF INDUSTRY

Shipping laws ‘take toll’ on refineries

Original article by Annabel Hepworth
The Australian – Page: 21 : 12-Nov-14

An Australian Maritime Safety Authority event on 12 November 2014 will be addressed by Deputy Prime Minister Warren Truss. He will argue that industries such as petroleum refining are being negatively affected by the cabotage regulations rolled out under the previous federal government’s Coastal Trading Act. Truss will claim that the added cost per vessel and per annum is $A6.5m. Refining in Australia is in decline, with just five major operations left and some four fifths of all fuel and crude already being imported

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, BHP BILLITON LIMITED – ASX BHP, EXXONMOBIL AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BP AUSTRALIA LIMITED, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. MARITIME SAFETY AUTHORITY, AUSTRALIAN LABOR PARTY

Caltex to axe 350 jobs ‘to become stronger’

Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 26-Aug-14

Caltex Australia has announced a 2014 interim net profit increase of 1% to $A173m, on revenue that also rose 11% to reach $A12.771bn. The six-month distribution is $A0.20, fully franked. CEO Julian Segal said the Australian-listed petroleum refining and service stations group would make another 350 workers redundant after 400 jobs were lost in the shutdown of the Kurnell refinery. Overall a tenth of the employees of Caltex will be laid off

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX