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The latest update is out from Viva Energy Group Ltd. ( (AU:VEA) ).
Viva Energy Group has welcomed a Federal Government decision to update and extend the Fuel Security Services Payment for its Geelong Refinery, reinforcing support for Australia’s remaining domestic refining capacity through to the end of the decade. The revised scheme lifts the refinery margin “collar” and “cap” by 3.6 Australian cents per litre to better reflect sharply higher operating and sustaining capital costs since 2021, while keeping the maximum support rate unchanged.
Under the new settings, the FSSP will now be triggered when the Geelong Refining Margin Marker falls below 10 Acpl, with full support reached at 8.2 Acpl, helping underpin the economics of a facility that supplies about half of Victoria’s fuel and a significant share of national reserves. The move follows around $500 million in refinery upgrades and new storage by Viva Energy and underscores the central role of domestic refining in Australia’s fuel security and continuity of supply for transport and aviation customers.
The most recent analyst rating on (AU:VEA) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on Viva Energy Group Ltd. stock, see the AU:VEA Stock Forecast page.
More about Viva Energy Group Ltd.
Viva Energy Group Ltd. is an Australian-listed convenience retailer, commercial fuels supplier and energy infrastructure operator with a 120-year history in the country. The company runs a network of more than 1,280 retail convenience and fuel stores, supplies fuels and lubricants to nearly 1,550 service stations, and owns the Geelong Refinery in Victoria alongside extensive terminal and aviation fuel infrastructure nationwide.
Average Trading Volume: 5,187,506
Technical Sentiment Signal: Buy
Current Market Cap: A$3.42B
Find detailed analytics on VEA stock on TipRanks’ Stock Analysis page.