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Major update after Geelong refinery fire
- Viva Energy expects the Geelong refinery to return to above 90 per cent capacity within weeks, currently operating at 60 per cent for petrol and 80 per cent for diesel and jet fuel.
- Wednesday night, a fire caused by an equipment fault tore through the alkylation unit at the Corio Bay plant, forcing production to minimum levels across the facility.
- Energy Minister Chris Bowen expressed confidence that "diesel and jet fuel will return to normal levels quite quickly," while Viva Chief Executive Scott Wyatt stated the company holds "sufficient fuel stocks" to bridge shortfalls.
- Shares in Viva resumed trading Monday at $2.53 after a four-day freeze, while Ampol shares skyrocketed about $1.30 on Thursday as the refinery fire triggered market volatility.
- Australia remains vulnerable to global fuel supply disruptions caused by conflicts in the Middle East and Iran, with this incident heightening concerns about the nation's ability to withstand ongoing international crunch pressures.
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Viva Energy Says Fuel Production Remains at 60 Percent, Weeks Needed to Restore Capacity
Viva Energy says it will likely take weeks to return to normal refining capacity after a blaze erupted at its Geelong facility on April 15. Currently, capacity has been reduced for fuel to 60 percent, while diesel and jet fuel have been cut to 80 percent. “The company has sufficient fuel stocks to cover this reduced production and expects to maintain normal fuel supply to our customers following this incident,” the company said in an ASX stateme…
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Coverage Details
Total News Sources19
Leaning Left5Leaning Right4Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
R 40%
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