Latest news with #Ampol
Reuters
16 hours ago
- Business
- Reuters
Ampol sees weaker first-half earnings on supply woes; reports lower margins
July 23 (Reuters) - Australia's top fuel retailer Ampol Ltd ( opens new tab on Wednesday forecast weaker half-year earnings as sea-freight conditions impacted its supply chain, and reported a 1.1% drop in second-quarter refining margins at its Lytton refinery. The company expects first-half earnings before interest and taxes on a replacement cost basis to be A$400 million ($262.04 million), compared with A$502.1 million a year earlier. The second-quarter refining margin at its Lytton refinery in Queensland, one of the company's key assets, decreased to $8.71 per barrel, down from $8.81 last year. Over the year, operational disruptions such as planned maintenance and loss of production days due to Cyclone Alfred, coupled with weak refining margins in Singapore, have weighed on refining margins and the output levels of the Queensland refinery. However, Lytton's refinery margin increased from the prior quarter's $6.07 per barrel owing to improved product crack — the difference between the price of crude oil and the prices of the refined petroleum products — in the later part of the year. The Sydney-based firm reported second-quarter total sales volume of 6,304 million liters (ML), down 4.7% from a year earlier. Its Lytton refinery output for the second quarter was 1,406 ML, compared to 1,420 ML logged a year earlier. The company's non-refining segments, convenience retail and New Zealand, performed well for the quarter. Grady Wulff, a senior market analyst at Bell Direct, noted that Ampol's convenience retail operations have been a key earnings driver, with resilient performance in this segment and New Zealand helping to cushion the impact of weaker refining results in the first half. Despite the mixed operational performance, shares gained ground, in tandem with the domestic energy sub-index (.AXEJ), opens new tab, which was lifted by steadying oil prices. Ampol stock rose as much as 4% to hit its highest since February 21. The company is slated to report its half-year financial results on August 18. ($1 = 1.5265 Australian dollars)
Reuters
19 hours ago
- Business
- Reuters
Ampol forecasts lower half-year earnings on supply chain impacts
July 23 (Reuters) - Australia's top fuel retailer Ampol Ltd ( opens new tab on Wednesday forecast weaker half-year earnings as sea-freight conditions impacted its supply chain, and reported a 1.1% drop in second-quarter refining margins at its Lytton refinery. The company expects first-half earnings before interest and tax on a replacement cost basis (RCOP EBIT) to be A$400 million ($262.04 million), compared with A$502.1 million a year earlier. The second-quarter refining margin at its Lytton refinery in Queensland, one of the company's key assets, decreased to $8.71 per barrel in the second quarter, down from $8.81 last year. Over the year, operational disruptions such as planned maintenance and loss of production days due to Cyclone Alfred, coupled with weak refining margins in Singapore, have weighed on refining margins and the output levels of the Queensland refinery. However, the refinery margin increased from the prior quarter's $6.07 per barrel, due to improved product crack - the difference between the price of crude oil and the prices of the refined petroleum products - in the later part of the year. The Sydney-based firm reported second-quarter total sales volume of 6,304 million liters (ML), down 4.7% from a year earlier. Its Lytton refinery output for the second quarter was 1,406 ML, compared to 1,420 ML logged a year earlier. The company is slated to report its half-year financial results on August 18. ($1 = 1.5265 Australian dollars)
ABC News
29-06-2025
- Automotive
- ABC News
Driveway service still exists at some independent petrol stations but is 'very unusual'
Historically, petrol stations across Australia provided personalised service, with attendants to look after you, wash your windscreen and check your car's water, oil and air. But by the 1990s bespoke customer service was on the decline. So, what happened? The turning point largely came about when fuel pumps went from mechanical to computerised, according to historian and author Colin Dennett. "The cause for the change slowly began as a combination of new pumps, fewer outlets and the era of high-volume company-operated sites developed," Mr Dennett said. Retail service stations in Australia have reduced from 22,000 sites in 1966 to approximately 8,000, generating roughly $38 billion annually. "The retail scene is basically dominated by multinationals but there's a few independents that break away from that, which is truly unique, and keeps the market competitive," Mr Dennett said. The NRMA's report Making Cents of Fuel says the presence of independent operators can influence market competition, being at least 7 to 10 cents cheaper per litre in some regional towns, with lower overhead costs. However, refiners and wholesalers still hold over 80 per cent of the market and Ampol is the biggest wholesaler. Today, driveway service it not offered by major petrol stations across Australia; however, it is possible to find small, independent operators who still provide it. On a 12-kilometre stretch between Shellharbour and Warrawong on the New South Wales south coast there are 12 petrol stations. Jimmy Pavlevski's independent station in Windang is one of them. When he purchased the business in 1998, the adjacent caravan park had a stream of people with vans and boats needing fuel. Mr Pavelvski said back then, people worked Monday to Friday and Sunday was family day. "They'd fill up, get some snacks and go for a family drive; that doesn't happen anymore," he said. "Sunday used to be the busiest day, now it's the slowest. "All people do now is sit on their phones." So, for the past few years his station has been running on the smell of an oily rag and even personalised service is dwindling due to lack of interest. And Mr Pavleski can no longer afford staff. "I can't provide that service full-time, only when customers require help," he said. As well as competing with other fuel stations, Mr Pavlevski is juggling the loss of tobacco sales, increasing fuel costs, EVs, large fridges to power and monthly card fees; he says it's a common story for independent service stations. "I'm never going to be competing with major service stations, I'm quite happy with what I have, what I've built up and the community I provide for," Mr Pavlevski said. In his book An Illustrated History of Ampol (2022), Colin Dennett weaves together the history of the company and other fuel suppliers across Australia from the 1930s. "Generally they didn't buy expensive sites and located wherever they could. "Driveway service was a way of competing because these stations were tucked away often in both back and side streets. "Today, multinationals dominate the highways and freeways and the suburban stations, which were once everywhere, have essentially disappeared. "So I would think there were very few independents left offering driveway service." At a century-old independent service station in Thirroul, NSW, window washing, below-the-bonnet work and air checks were once freely applied by attendants. For now, fuel top-ups are provided and other services exist on request. Owner-operator Graeme Rutledge works six days a week and started serving fuel at 21 when his father bought the business in 1946. To make ends meet, Mr Rutledge offers motor mechanic repairs for vintage cars. "Generally, we work on late-model cars early in the day and the others later in the day," he said. Driveway attendant Avery Vail says they enjoy serving customers and being the friendly face at the front of the petrol station. "We do driveway service, it's very pleasant to go out, serve customers and have a little chat," they said. Mr Dennett said providing driveway service was very unusual and should be encouraged. "Driveway service costs to have an attendant checking tyres et cetera, but I think it's pretty attractive, particularly for older motorists," he said.
West Australian
16-06-2025
- Business
- West Australian
Energy shares soared on Israel, Iran conflict
Australia's sharemarket eked out a tiny gain during Monday afternoon's trading, thanks largely to energy stocks lifted by a spike in the oil and uranium price. The benchmark ASX 200 index finished slightly higher up just 1 point or 0.01 per cent to finish trading on Monday at 8,5484. The broader All Ordinaries have marginally finished in the green, adding 4.40 points or 0.05 per cent to 8,775.00. The Australian dollar rose during Monday's trading and is now buying 65.04 US cents. On a mixed day for the market, five of the 11 sectors finished higher led by the energy sector which soared a number of key announcements. The price of crude oil sharply rose over the weekend, after tensions between Iran and Israel saw the two nations firing missiles at each other. Shares in Woodside jumped 3 per cent to $25.96, Ampol also gained 0.19 per cent to $25.86 and Beach Energy jumped 1.92 per cent to $1.32. Santos shares were up 11 per cent to $7.72 after a UAE consortium-led takeover proposal for Santos to the tune of $28.87bn, as well as rising oil prices. IG market analyst Tony Sycamore said while the situation in the Middle East remained fluid, Israel's early successes in knocking out large parts of Iran's military was muting the jump in oil prices. 'There are fears that Iran may close the Strait of Hormuz, which would impact oil trade, as it is the primary route for oil exports from major OPEC producers like Saudi Arabia, Iraq, the UAE, and Kuwait,' Mr Sycamore said. 'This is viewed as a measure of last resort by Iran, as it would affect its main customers, China and India, and increase the likelihood of US military intervention.' Uranium stocks were also the major winners with Deep Yellow soaring 22.93 per cent to $1.59, Boss Energy gained 20.1 per cent to $4.42 and Paladin Energy also jumped 16.90 per cent to $7.36. 'There is an idea that there is going to be a $20bn investment in data centres over the next five years by a tech giant, which is giving the shares a boost,' he said. 'The second part of this is that the Spott Physical Uranium Trust will raise $US100m to buy the nuclear fuel.' While the energy stocks jumped, consumer staples were the biggest hit on fears of higher oil costs impacting these stocks costs. Woolworths shed 1.2 per cent to $31.80, Coles was 0.7 per cent off to $22.06, Treasury Wine and Endeavour Group dipped 2.4 per cent to $3.99. Treasury Wine Estates also fell 1.49 per cent to $7.93 while A2 Milk finished in the red down 1.24 per cent to $7.95. 'At the end of the day there is a risk of higher energy markets,' he said. 'If energy prices stay higher that flows into core prices because crude oil is the lifeblood of so much in terms of production and transportation cost.' In corporate news shares in Campervan group Tourism Holdings shares soared 56.04 per cent to $2.13 after announcing a $471m bid from BHP Capital. While shares in infant formula maker Bubs also finished strongly in the green up 6.25 per cent to $0.17 after telling the market it submitted clinical trial data to the US FDA under the New Infant Formula Submissions.
News.com.au
16-06-2025
- Business
- News.com.au
Energy shares soared on Israel, Iran conflict
Australia's sharemarket eked out a tiny gain during Monday afternoon's trading, thanks largely to energy stocks lifted by a spike in the oil and uranium price. The benchmark ASX 200 index finished slightly higher up just 1 point or 0.01 per cent to finish trading on Monday at 8,5484. The broader All Ordinaries have marginally finished in the green, adding 4.40 points or 0.05 per cent to 8,775.00. The Australian dollar rose during Monday's trading and is now buying 65.04 US cents. On a mixed day for the market, five of the 11 sectors finished higher led by the energy sector which soared a number of key announcements. The price of crude oil sharply rose over the weekend, after tensions between Iran and Israel saw the two nations firing missiles at each other. Shares in Woodside jumped 3 per cent to $25.96, Ampol also gained 0.19 per cent to $25.86 and Beach Energy jumped 1.92 per cent to $1.32. Santos shares were up 11 per cent to $7.72 after a UAE consortium-led takeover proposal for Santos to the tune of $28.87bn, as well as rising oil prices. IG market analyst Tony Sycamore said while the situation in the Middle East remained fluid, Israel's early successes in knocking out large parts of Iran's military was muting the jump in oil prices. 'There are fears that Iran may close the Strait of Hormuz, which would impact oil trade, as it is the primary route for oil exports from major OPEC producers like Saudi Arabia, Iraq, the UAE, and Kuwait,' Mr Sycamore said. 'This is viewed as a measure of last resort by Iran, as it would affect its main customers, China and India, and increase the likelihood of US military intervention.' Uranium stocks were also the major winners with Deep Yellow soaring 22.93 per cent to $1.59, Boss Energy gained 20.1 per cent to $4.42 and Paladin Energy also jumped 16.90 per cent to $7.36. 'There is an idea that there is going to be a $20bn investment in data centres over the next five years by a tech giant, which is giving the shares a boost,' he said. 'The second part of this is that the Spott Physical Uranium Trust will raise $US100m to buy the nuclear fuel.' While the energy stocks jumped, consumer staples were the biggest hit on fears of higher oil costs impacting these stocks costs. Woolworths shed 1.2 per cent to $31.80, Coles was 0.7 per cent off to $22.06, Treasury Wine and Endeavour Group dipped 2.4 per cent to $3.99. Treasury Wine Estates also fell 1.49 per cent to $7.93 while A2 Milk finished in the red down 1.24 per cent to $7.95. 'At the end of the day there is a risk of higher energy markets,' he said. 'If energy prices stay higher that flows into core prices because crude oil is the lifeblood of so much in terms of production and transportation cost.' In corporate news shares in Campervan group Tourism Holdings shares soared 56.04 per cent to $2.13 after announcing a $471m bid from BHP Capital. While shares in infant formula maker Bubs also finished strongly in the green up 6.25 per cent to $0.17 after telling the market it submitted clinical trial data to the US FDA under the New Infant Formula Submissions.
