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Ampol forecasts lower Lytton refinery output in 2020

  • Märkte: Crude oil, Oil products
  • 08.10.20

Australian refiner and transport fuels marketer Ampol, formerly Caltex Australia, expects production from its 109,000 b/d Lytton refinery in Queensland to be 42pc lower in 2020 against last year because of the impact of the Covid-19 pandemic on transport fuel demand.

Lytton is now operational after extended maintenance since May with production for the October-December quarter expected to be 89,000 b/d. Lytton is expected to produce 58,000 b/d in 2020, down from 100,000 b/d for 2019.

The refinery's unaudited profit after tax on a replacement cost of sales operating profit basis recorded a loss of A$82mn ($58.55mn) for July-September, taking the year to date losses to A$141mn. Lytton posted a profit before interest and tax of A$70mn in 2019 from A$161mn in 2018.

Ampol has started a review of Lytton, including a potential closure and permanent transition to an import terminal.

Viva Energy, the operator of Victoria's 128,000 b/d Geelong refinery is also reviewing the future of the plant as Australian refining margins are hit by slumping demand and regional overcapacity.

Australia's other refineries are ExxonMobil's 90,000 b/d Altona refinery in Melbourne and BP's 146,000 b/d Kwinana plant in Perth. The four refineries' combined capacity of 473,000 b/d is less than half of Australia's consumption.


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