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Viva Energy and Toll launch hydrogen powered prime movers. September 24, 2026 GMC major partner Viva Energy and Toll Group have launched hydrogen fuel cell electric prime movers, marking an important step for lower-emissions freight in Australia. Delivered with BlueScope Steel and supported by the Federal Government's ARENA program, the B-double vehicles can travel approximately 300 kilometres, refuel in around 20 minutes, and reduce diesel use by about 80,000 litres per vehicle annually. Each could also avoid around 208 tonnes of CO[2] emissions a year compared with an equivalent diesel vehicle. Fuelled at Viva Energy's Hydrogen Hub, Australia's first 24/7 public hydrogen refuelling station, the fleet will initially support steel deliveries from BlueScope's Hastings facility. The project demonstrates how industry collaboration can build infrastructure, maintain performance and accelerate practical pathways to decarbonise heavy transport at scale.

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.

Key oil refinery long way from return to full capacity. Kaaren MorrisseyAAP 24 August 2026, 10:03pm One of the nation's critical onshore refinery facilities is still not back to 100 per cent capacity following a huge fire, as the owner looks to replace vital infrastructure after delivering its best-ever interim earnings. Viva Energy, which owns the oil refinery in Geelong, alongside a 1300-strong network of petrol stations across the country, reported a bottom line first-half net profit jump of 331.3 per to $452 million. The result was driven by runaway fuel sales at higher margins on the back of supply constraints caused by the Middle East crisis, which has closed the Strait of Hormuz, a vital global shipping lane. Net profit on a replacement cost basis - which excludes the impact of oil prices on inventories - soared by almost 500 per cent to $371.1 million in the six months ended June 30. This was its highest underlying first-half result, with all three business units reporting significant growth as total fuel sales hit 8490 megalitres. Viva Energy chief executive Scott Wyatt said the company - which operates one of two onshore refineries, with the other owned by Ampol - has identified opportunities in the federal government's recently announced fuel security measures. "Right now, we are heavily engaged with the government on policy development to provide long-term investment for the refining sector, which we expect to provide more certain returns than the current fuel security services payment," he told an earnings briefing on Tuesday. The Labor government wants to set up a one-billion-litre strategic fuel reserve, increase industry storage rules to ensure at least 50 days of supply and support the two refineries, one of which is in Brisbane. In April, a major fire broke out at Viva's facility in the Geelong suburb of Corio, affecting its alkylation processing unit, which turns low-value gases into a high-value, high-octane, clean-burning liquid called alkylate for premium petrol. The broader facility is back to 90 per cent capacity, but full production remains a way off until the unit is replaced. "We are assessing technology solutions and will work with our insurers to determine the best way forward over the coming months," Mr Wyatt said. "It's a bit of a work in progress." Viva's retail arm, which includes the petrol stations and more than 900 convenience stores, had a strong half with underlying earnings soaring 86.4 per cent to $138.7 million, mostly due to fuel sales under the Shell, OTR Liberty and Reddy Express brands. In the past, Viva has complained about the impact of the rising illegal tobacco trade on its business, but says that's waning as authorities take action against suppliers. For the half, tobacco sales were down by almost 17 per cent year-on-year, but flat compared to the second half of 2025. The commercial and industrial business, which mainly sells bulk fuels and lubricants to the mining, aviation and other heavy fuel-using industries, lifted earnings by 28 per cent to $305.4 million. And the energy and infrastructure division, which anchors the Geelong refinery along with fuel import terminals, storage depots and pipelines, enjoyed an incredible jump of almost 2000 per cent to $353.7 million. That was due to the stronger refining margins on the back of the war. Shares in Viva, which will pay an interim dividend of 7.73 cents, fell 1.2 per cent to $2.82.