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Australian oil company refining and marketing
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Falcon, Australia
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Ampol is an Australian petroleum company that runs a network of fuel stations and supplies refined petroleum products in Australia. It operates by sourcing crude oil, refining it into fuels, and distributing these products through its own refining and marketing assets and a nationwide retail network to serve customers. Unlike many competitors, Ampol emphasizes its history as an Australian-owned company and its revival of the Ampol brand after a period of ownership changes, aiming to be a trusted, locally controlled energy provider. Its goal is to be a leading Australian-owned energy company by maintaining a strong retail network, reliable product supply, and an enduring national brand.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Sydney, Australia
Founded
1900
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Toyota targets fleet emissions with renewable diesel. Toyota Australia has confirmed that diesel-powered HiLux models built from mid-2015 can operate on 100 per cent hydrotreated vegetable oil, giving fleet operators another potential pathway to reduce lifecycle emissions without replacing existing vehicles. The announcement covers HiLux models equipped with Toyota's 1GD and 2GD turbo-diesel engines. With more than half a million N80 and N90-generation HiLux vehicles currently on Australian roads, Toyota believes low-carbon liquid fuels could play a significant role in reducing emissions from the existing vehicle fleet. Toyota and Ampol are currently trialling HVO100, a renewable diesel alternative that can be used without blending conventional diesel. For fleet managers, particularly those operating utilities, local government, infrastructure, mining and regional fleets, the announcement is significant because it offers the potential to lower emissions while continuing to use vehicles already in service. Decarbonising the existing fleet. While much of the fleet decarbonisation conversation has focused on replacing internal combustion vehicles with battery-electric models, Toyota is positioning low-carbon liquid fuels as another part of its multi-pathway strategy. Toyota says all of its existing diesel models are already capable of operating on a blend containing up to 20 per cent low-carbon liquid fuel, while it is studying the expansion of HVO100 compatibility to additional models. Toyota Motor Corporation Australia President and CEO Matthew Callachor said practical choices would be important as Australia moves towards lower-emission transport. "At Toyota, we believe decarbonisation requires a multi-pathway approach that gives customers practical choices while supporting Australia's transition to a lower-emissions future," Callachor said. "The confirmation that HiLux models from 2015 onwards can run on 100 per cent hydrotreated vegetable oil is validation that the vehicle technology exists today." For fleets with long replacement cycles, the ability to reduce the lifecycle emissions of vehicles already operating could become particularly important. It may allow organisations to make progress against emissions targets without waiting for every vehicle to reach its scheduled replacement date. Regional fleets remain a key challenge. Toyota is also highlighting the potential role of renewable fuels in applications where battery-electric vehicles may not yet meet operational requirements. The company says low-carbon liquid fuels can retain the towing capability, driving range, performance and practicality associated with diesel vehicles, making them particularly relevant for regional and remote operations. That could make HVO particularly relevant for fleets with vehicles travelling long distances, towing equipment or operating away from established charging infrastructure. Toyota recently demonstrated that capability by completing an approximately 3,000km journey through regional Queensland, New South Wales, Victoria and South Australia in a HiLux powered by HVO100 as part of the National Bush Summit. What is HVO100? Hydrotreated vegetable oil can be produced from renewable feedstocks including vegetable oils and recycled cooking oils. Toyota says HVO100 has a higher cetane number than conventional fossil diesel, providing improved ignition quality and more stable combustion, while also containing substantially lower levels of sulphur and aromatics. However, availability will be critical if renewable diesel is to become a meaningful option for Australian fleets. Toyota has welcomed moves to establish a domestic low-carbon liquid fuels industry, including Ampol's proposed Brisbane Renewable Fuels project being explored with GrainCorp and IFM Investors. The company argues domestic production could help support regional industries, improve fuel security and increase the availability of lower-emission fuels. For fleet operators, HVO100 is unlikely to replace the need to assess battery-electric and other zero-emission vehicles. Instead, it could give organisations another option for reducing emissions across vehicle categories where replacement technologies, charging infrastructure or operational requirements remain challenging. The development also broadens the fleet decarbonisation discussion beyond what vehicle to buy next - and towards what can be done with the thousands of diesel vehicles already sitting in Australian fleet depots.
Billionaire prepared to put his own money into $15b oil refinery. Updated Sep 2, 2026 - 4.18pm, first published at 3.32pm The billionaire assessing whether Australia should build its first oil refinery in six decades says he will put his own cash into the potential $15 billion project, despite international oil majors dismissing local refining as unviable. Vikas Rambal, the Indian-born founder and chairman of industrial manufacturer Perdaman Global Services, said a facility could be profitable in Australia if built to sufficient scale, bucking the trend of refinery closures over the past decade as they struggled to compete with cheaper imports. "Absolutely we'll put our money in. We are not a consultant, we are a manufacturer," said Rambal. "I was approached by the [WA] premier and the prime minister [to assess a possible new refinery] because of my background, I said yes, it's possible, but we have to think large scale so that we can compete." Eight oil refineries have been closed across Australia over the past 20 years, leaving just two in operation: Viva Energy's plant in Geelong and Ampol's Lytton refinery in Brisbane. Western Australia has no refining capacity after oil major BP closed its Kwinana plant near Perth in 2021. The nation relies heavily on imports from areas such as South-East Asia and the Middle East - an arrangement that exposed the precarious nature of Australia's fuel supply chain when the conflict between the United States and Iran led to the vital Strait of Hormuz oil route being blocked. Viva and Ampol have struggled to turn a profit at their refineries for many years, but the Middle East conflict has sparked a major reversal in their fortunes. Operating profit at Ampol's Lytton facility rocketed to $533 million in the year to June 30, up from $1.1 million in the prior year, while underlying earnings at Viva's Geelong plant rose to $354 million from $18 million. The Albanese government in July asked Perdaman to investigate the feasibility of building a new refinery in WA, sparking criticism from green groups who believe it would encourage the wider use of fossil fuels. Business leaders also questioned its economic viability given an expected $10 billion to $15 billion construction price tag. "We want the refinery to be bankable," said Rambal, adding that any new refinery would most likely be backed by a mix of public and private funding. "This is a national project. It will look after Australia. There will definitely be [financial] input from the federal government, the state government... The cost of production will come down when you put in a world-scale refinery. "Should we have this refinery? It is a must. In the next era of uncertainty, we should have fuel security for this country." Rambal acknowledged that the project would not stack up without state support, but also expects to field interest from potential partners in the private sector. Privately owned Perdaman is due to deliver a feasibility study into the new refinery to the government in early 2027, with the Albanese government contributing $4 million to the cost. Rambal was speaking at the group's $6.4 billion Ceres fertiliser plant in WA's Pilbara, which is 85 per cent completed. Using a desalination plant and gas from energy giant Woodside's nearby North West Shelf operations, the fertiliser plant will produce 2.3 million tonnes of urea annually - more than half of Australia's annual consumption. Ceres will bolster the security of Australia's fertiliser supply after it was threatened by the Strait of Hormuz blockage. About a quarter of global seaborne trade in the key agricultural product passes through the channel. Perdaman has agreed to a 20-year gas supply deal with Woodside and a 20-year offtake agreement with Macquarie. The project is backed by $475 million in federal government loans. Rambal said at least a million tonnes of Ceres' annual urea production was earmarked for Australian farmers, as well as incentives for buyer Macquarie to sell the remaining output locally.
ASX 200 rises as miners rally and Ampol profit surges during reporting season's final week as banks lag. Mining sector gains and Ampol's standout profit boost ASX 200 despite banking sector weakness. Published 08/24/26 AT 3:01 PM AEST SYDNEY - The S&P/ASX 200 climbed 42.8 points, or 0.47%, to 9,101.7 as of 2:58 p.m. AEST Monday, as strength across the mining sector and a standout profit result from fuel retailer Ampol offset weakness in banks and insurers heading into the final week of Australia's corporate earnings season. The benchmark opened the session only marginally higher, up just 0.1% to 9,071 points at 10:15 a.m. AEST, according to ABC News' live market coverage, with miners in the basic materials sector and healthcare stocks leading the early gains while banks and insurers weighed on the index by weighting. By 11 a.m., the ASX 200 had extended its advance to 0.6%, reaching 9,110 points, with the broader All Ordinaries index posting a similar gain as big miners continued to drive the session's momentum. Fuel retailer Ampol delivered one of the standout results of the morning, with its integrated business model capitalizing on global product market dislocation to deliver a profit surge well ahead of analyst expectations. According to Market Index's live coverage, Ampol's replacement cost operating profit EBITDA rose 152% to $1.637 billion, beating Macquarie's estimate of $1.603 billion by 2%, while replacement cost operating profit EBIT climbed 245% to $1.392 billion, a 3% beat, driven largely by the company's Fuels and Infrastructure division, which surged 859% to $1.135 billion as its Lytton refinery swung to a $533.4 million contribution from just $1.1 million the prior year. Ampol's replacement cost net profit after tax rose 376%, according to the same report. Regional lender Bendigo and Adelaide Bank also reported results Monday, posting full-year statutory profit of $375 million, in line with analyst estimates. On the bank's preferred cash earnings metric, which strips out one-off gains and losses, profit rose a modest 3.0% to $530.2 million against estimates of $532 million, while second-half cash earnings of $273.8 million matched forecasts of $274 million almost precisely, according to Market Index. ABC News reported that second-half momentum showed greater strength specifically, with cash earnings up 7% to $274 million for that period. Lithium miner Pilbara Minerals delivered one of the day's more dramatic turnaround stories, reporting a full-year profit of $526 million after posting an almost $200 million loss the previous year. According to ABC News, sales revenue jumped 150% to almost $2 billion, driven in large part by a 120% increase in realized prices over the year. The company kept costs lower and will pay a full-year dividend of 5 cents per share, having skipped a dividend payment entirely the previous year. Quick-service restaurant operator Guzman y Gomez drew renewed analyst attention Monday following its recent earnings result. According to The Motley Fool Australia, Bell Potter downgraded the stock to a hold rating with an improved price target of $27.30, even as the broker praised the company's underlying performance. "While we think GYG is a clear leader in the QSR space after displaying strong comp sales growth, margin expansion, and further network growth opportunities, we see near-term cost headwinds and a consumer slow-down as a risk to FY27 guidance and view the current multiple as fairly valued. While we increase our PT ~11%, it is only a modest premium to the share price, so we downgrade to HOLD," Bell Potter said. Alcohol retailer Endeavour Group also featured prominently in Monday's earnings coverage, with management fielding investor questions about the durability of retail momentum and softening trade at its hotels division. According to Market Index, the company addressed its planned $100 million in cost reductions for fiscal 2027, noting that wage growth for the coming year is "quite materially elevated, and therefore the AUD 100 million of cost out will go to largely offset it, but will not drive more than an offset." Management also cautioned that the strong 4.6% start to retail sales in the new fiscal year had been flattered by heavy promotional activity, saying, "I hadn't seen a 20% off before, and hopefully we don't s - ," a comment cut off in the live coverage transcript. The company reported inventory down 11% to $24.1 million and a net cash position of $5.2 million, having repaid all borrowings, while noting fiscal 2027-to-date same-store sales across Australia and New Zealand were up 11.4% over the first seven weeks, even as online sales declined 8% amid reduced promotional activity. Gold miners were positioned for a strong start to the week, with Capricorn Metals and other gold-exposed names expected to benefit from continued strength in the precious metal, according to The Motley Fool Australia's preview of Monday's session. Meanwhile, early trading saw oil prices slip roughly 1%, or about $1 a barrel, across key global benchmarks, while gold prices edged higher. Investors are now heading into the final week of the current August reporting season, a stretch ABC News described as likely to prompt analysts to trim some earnings forecasts, even though the season overall has been far from disastrous. Discretionary spending-focused stocks have faced a particularly difficult stretch throughout the reporting period, and this week's calendar includes further releases from consumer-facing companies including Wesfarmers, Harvey Norman, Qantas and Domino's Pizza, all of which could produce significant share price swings depending on how their results land relative to expectations. Coles is also scheduled to report this week, according to ABC News' preview of the coming sessions. Numerous stocks traded ex-dividend Monday, a technical adjustment that tends to weigh modestly on individual share prices independent of broader market sentiment, according to ABC News' market notes. With the ASX 200 continuing to trade well below its all-time high of 9,198.6 points reached in February, but having recovered meaningfully from its closer-to-8,800 level in July, investors are likely to remain focused for the remainder of the week on how the final wave of major consumer, retail and travel-sector earnings reports shapes the index's trajectory heading into September, as the current reporting season draws to its conclusion.
Ampol profit surges as Middle East disruption boosts refining margins. Australian fuel supplier Ampol reported a sharp increase in first-half 2026 earnings, benefiting from higher refining margins and trading opportunities created by disruption to global oil and refined-product flows. Replacement Cost Operating Profit EBITDA, excluding significant items, climbed 152% from a year earlier to A$1.64 billion for the six months ended June 30, while RCOP net profit attributable to shareholders rose to A$857.2 million from A$180.2 million. Statutory net profit reached A$1.36 billion, compared with a A$25.3 million loss in the first half of 2025. The biggest earnings improvement came from Ampol's Fuels and Infrastructure division, where RCOP EBIT jumped to A$1.13 billion from A$118.3 million a year earlier. The Lytton refinery accounted for much of that increase. RCOP EBIT at the Queensland facility rose to A$533.4 million from just A$1.1 million, as Middle East supply disruptions tightened global refining capacity and pushed product cracks higher. Ampol's Lytton Refiner Margin averaged US$28.26 per barrel during the half, while refinery production increased 8.7%. Ampol said its broader supply, shipping and trading operations also benefited from the volatile market. Australian Fuels and Infrastructure operations excluding Lytton generated RCOP EBIT of A$309.3 million, up 123%, while international Fuels and Infrastructure contributed A$307.5 million compared with A$2.8 million a year earlier. The results underline the earnings sensitivity of refiners and fuel suppliers to disruptions in global petroleum trade. Ampol said continuing uncertainty around Middle East shipping routes, including the Strait of Hormuz and Bab-el-Mandeb, remained supportive of regional refining margins. Russian diesel export delays and historically low refined-product inventories were also adding pressure to global supply. Those conditions continued after the reporting period. Ampol's Lytton Refiner Margin reached US$27.11 per barrel in July, with refinery production of 524 million liters. The company said July earnings were ahead of the same period last year, although Lytton began a scheduled turnaround on July 30 and is expected to restart during October. Convenience Retail also improved, with RCOP EBIT rising 12% to A$204.5 million. Fuel volumes increased 2.4%, while underlying shop sales excluding tobacco and conversions to its U-GO discount format rose 3.5%. Ampol completed its acquisition of EG Australia at the end of the half, expanding its retail network and increasing the contribution of retail and commercial sales to group earnings. The company expects annual synergies of A$65 million to A$80 million within two years of completion, with benefits beginning to flow through results in fiscal 2027. Performance was weaker in New Zealand, where RCOP EBIT excluding exited businesses fell 16% to A$103.8 million. Ampol said rapidly rising wholesale fuel costs took longer to pass through to customers, temporarily pressuring margins and contributing to a 2.5% decline in fuel volumes. The company is also expanding its electric-vehicle charging business. Its AmpCharge network reached 356 charging bays in Australia during the half, while Z Energy operated 217 charging bays across 63 New Zealand sites. Energy Solutions narrowed its RCOP EBIT loss to A$15.6 million from A$24.1 million and remains targeted to reach a breakeven exit run-rate in 2028. Ampol declared a fully franked interim dividend of A$1.85 per share, more than four times the prior-year interim payout. Net borrowings increased to A$3.52 billion at June 30 from A$2.90 billion at the end of 2025, partly reflecting A$1.17 billion used to settle the EG Australia acquisition. By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com
Ampol to pay huge dividend to shareholders as profits leap. Cameron MicallefNewsWire 23 August 2026, 6:08pm Surging fuel prices due to US President Donald Trump's war with Iran has led to bumper profits for Australia's largest petrol retailer. In its latest market update, Ampol noted net profit on a replacement cost operating - which is used by investors as it excludes the impact of oil prices on inventories - leapt to $857.2m in the six months until June 30. This was more than four and half times last year's recorded profit of $180.2m. The company said it will pay out the money to shareholders, with interim dividends of $1.85, which is nearly four times higher compared with this time last year. Ampol managing director and chief executive Matt Halliday said first half profits were marked by the Middle East conflict with Australia and New Zealand not immune to global energy prices. "While the market dislocation provided a benefit to our financial results, our supply responsiveness, trading capabilities, refinery reliability, customer and supplier relationships as well as the progress of our retail segmentation strategy all enabled Ampol to meet its customers' needs," Mr Halliday said. "In short, the underlying business performance improved across multiple segments as Ampol's supply chain remained resilient, when less robust supply chains faltered." Oil prices have fluctuated wildly since the start of the year due to the war in the Middle East. In January, prior to the conflict beginning oil hit a low point of $US56 ($A78) a barrel. But it quickly soared to more than $US130 ($A181) a barrel in April - the highest level since the 2022 energy crisis. Motorists in Australia were spared some of the pain at the fuel pump due to reducing the tax excise and returning the GST windfall to drivers. This cut initially took 32 cents off each litre of petrol, before it was dropped to 16c in July. From Sunday August 1, the government completely reinstated the fuel tax excise. According to AMP, every $US10 a barrel increase in fuel costs motorists about 10 cents per barrel.