Oil companies authorised to cooperate to secure fuel supplies during COVID-19

Oil companies authorised to cooperate to secure fuel supplies during COVID-19

4 years ago
The Australian Institute of Petroleum (AIP) and major oil refiners have been granted authorisation by the ACCC to continue cooperating on measures to improve the security of fuel supplies during the COVID-19 pandemic. The pandemic continues to impact on Australia’s fuel supply chain, causing unpredictable changes in demand for fuel and creating a potential for major disruptions to the domestic and international fuel supply chains. The ACCC’s authorisation allows AIP and major oil refiners to […]
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Ampol service station loss

Ampol’s oil refinery sinks to loss as virus drains fuel demand

4 years ago
Australian fuel supplier Ampol has detailed the severity of COVID-19’s impact on its operations as travel restrictions wipe out demand and send its oil refinery sinking to a loss of nearly $60 million. Ampol, formerly Caltex Australia, told shareholders on Tuesday it was suffering “unprecedented challenges” amid the pandemic’s devastating effect on petrol and jet fuel consumption so far this year as flights remain grounded and cars parked in driveways. The company’s benchmark underlying profit […]
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