Petrol prices could rise, thanks to $2.3 billion oil refinery handout

Petrol prices could rise, thanks to $2.3 billion oil refinery handout

4 weeks ago
Motorists could end up paying more money for petrol under a new government plan to pay oil companies up to $2.3 billion to bolster Australia’s fuel security. Prime Minister Scott Morrison on Monday detailed how taxpayers will prop up the nation’s two remaining oil refineries, claiming production subsidies and infrastructure funding will improve national security and shield motorists from higher prices. But experts said the plan, which is designed to ensure Australia doesn’t become totally […]
Read More

Federal support package targets Ampol (ASX:ALD) and Viva (ASX:VEA)

4 weeks ago
Two S&P/ASX 200 Index (ASX: XJO) fuel companies have been targeted by the Federal Government’s newly announced Fuel Security Package (FSP). Both the Ampol Ltd (ASX: ALD) share price and Viva Energy Group Ltd (ASX: VEA) share price will be in focus following the news. At the time of writing, the Ampol share price is 5% higher, trading at $27.25. The Viva Energy share price is up 5.2%, currently trading at $2.10. The FSP is […]
Read More

Viva’s Lost Wages as Pandemic Bites

4 months ago
Viva Energy has followed its rival Ampol in revealing the damage done to the refining, distribution and retailing of oil and petrol products by COVID. Ampol’s Monday full year results showed a bigger loss at its Lytton refinery, lower revenues, a lower dividend that would have been bigger if not for higher sales and earnings from its chain of convenience stores attached to fuel stations. Viva, which operates the former Shell refinery in Geelong and […]
Read More

Viva Energy enters strategic partnership with HYZON Motors

4 months ago
Fuel and energy services supplier, Viva Energy, has entered a strategic alliance with HYZON Motors. HYZON, established as a new business of Horizon Fuel Cell Technologies, leverages Horizon’s almost two decades of experience in hydrogen fuel cell development including the supply of around 500 hydrogen fuel cell systems powering zero-emission trucks and buses to customers globally. HYZON’s next-generation Gen-3 automotive fuel cell technology has been confirmed as the highest power density fuel cell stack in […]
Read More

Viva Energy’s refinery lost $30m

8 months ago
The future of Viva Energy’s Geelong oil refinery remains in the balance after its losses accelerated in the September quarter, piling further pressure on the federal government’s fuel security measures to prevent the closure of a key manufacturer in lockdown-hit Victoria. The loss in refining totalled $30 million in the quarter, adding to the deficit of almost $50 million amassed in the June half. Viva said it was “pursuing all available options” to improve cash […]
Read More

Create your account