Viva stays energised: Sales up despite refinery challenges
Viva Energy (ASX:VEA) posted solid sales growth for the third quarter of 2024, with group sales volumes rising by 3% year-on-year to 4.2 billion litres.
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Viva Energy is one of Australia’s leading energy companies. We’re proud to be Australian, proud of our 110-year history and extremely proud of our achievements.
Viva Energy help Australians reach their destinations by making, importing and delivering the fuels, lubricants, chemicals and bitumen they need to get there. We’re with workers on their daily commute and families on their school run. We’re with industry, too, helping truck drivers move freight across the country and machinery operators in the mining, aviation and marine industries.
Viva Energy own and operate the Geelong Refinery, one of only four refineries in Australia. It supplies over 10 percent of Australia’s fuel – and more than 50 percent of all the fuel used in Victoria.
Every second flight out of Victoria takes off with our locally supplied jet fuel. We make and supply the bitumen that paves Australia’s roads, runways and racetracks, and the chemicals used by industries such as mining, paint and adhesives.
Employing around 700 people and pumping millions of dollars into the local economy through wages and services, the Geelong Refinery is a vital part of Australia’s energy solution. And we’ve invested in improvements, and increasing storage capacity to ensure it will continue to be an important part of local manufacturing for years to come.
Viva Energy supply around a quarter of the country’s total liquid fuel requirements. Local production at our Geelong Refinery is supplemented with products imported through the worlds’ largest independent trader (the Vitol Group) and delivered safely and reliably nationwide through our network of more than 22 fuel import terminals around the country.
People trust our products. We are the exclusive supplier of Shell fuels and lubricants in Australia and through our network of over 1,250 service stations across the country, our high quality products are easy to find wherever you are.
Our aim is to be one of Australia’s most respected energy companies, demonstrated through our commitment to safety, care for the environment, determined with pleasing our customers, and our support for the communities in which we operate through partnerships with organisations such as the Cathy Freeman Foundation.
At Viva Energy, we’re building a company that is driven by our people. Our culture reflects the passion, pride and personality of the employees and contractors that choose to work here. Together we are committed to building Australia’s energy future.
Viva Energy (ASX:VEA) posted solid sales growth for the third quarter of 2024, with group sales volumes rising by 3% year-on-year to 4.2 billion litres.
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Shell fuel refiner and retailer Viva Energy (ASX:VEA) has reported a rise in half-year profit, driven by strong earnings from its refining business. This gain offset a slowdown in fuel sales volumes and a significantly higher interest and finance bill resulting from the takeover of a major Adelaide-based convenience and fuel retailer.
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Viva Energy Group (ASX:VEA), the Australian licensee of Shell, has reported a 5.7% increase in fuel sales volume for the six months ending June 30. This growth trajectory was primarily driven by a robust performance in the commercial and industrial sector, which offset a decline in the traditionally higher-volume retail segment.
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In its second decision on Thursday regarding a significant acquisition, the ACCC has announced its approval of Viva Energy's proposed acquisition of the convenience store chain, OTR Group. The decision comes after the Commission accepted a court-enforceable undertaking from Viva Energy, committing to divest 25 Coles Express sites in South Australia.
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Market punters can rest easy now as the sale of a block stake in Viva Energy (ASX:VEA), Australia's second oil refinery and petrol (Shell) group, has been completed.
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Among the stories doing the rounds during Wednesday's ASX trading session were these two from Viva Energy and Estia Health.
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Viva Energy, the owner of the Shell brand in Australia, is making a big bet – with plans to spend a total of $1.4 billion on dramatically expanding itself into non-fuel retailing.
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The high prices at the pump seem to be having a mixed impact on petrol refiner / retailer Viva Energy, with earnings strong despite a marked weakening in petrol sales around the country.
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Oil price strength has fattened profit margins up the production, distribution and retail chains, with local refiners Viva and Ampol among those reaping the bottom-line benefits.
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The broker retains its Outperform rating and $2.57 target price.
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