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

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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nick and his son

Petrol king takes over Adelaide tower in $175m deal

4 years ago
Petrol king turned property magnate Nick Andrianakos has consolidated his family’s commercial property footprint in Adelaide, acquiring a Flinders Street office tower from Cbus Property for $175 million. The purchase of 50 Flinders Street, on a yield of around 6.5 per cent, is the biggest office investment so far for the family company, Nikos Property Group. It stands next to Santos House at 60 Flinders Street, which Nikos bought two years ago from Lendlease for […]
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United Petroleum’s subsidiary United Terminals investing $20 Million on expanding their terminal.

5 years ago
EVZ Limited’s (EVZ) engineering subsidiary has been awarded a $20 million contract for work expanding Hastings Fuel Terminal in Victoria. Brockman Engineering, one of EVZ’s subsidiaries, will undertake project engineering and construction of the expansion for United Terminals. United Petroleum’s subsidiary United Terminals operates the fuel terminal and is undertaking a major expansion of the terminal. The works will see an additional two truck loading bays built and storage capacity increased to 50 million litres. […]
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Colse facing court over claims of predatory pricing on cigarettes

5 years ago
Coles is battling a Federal Court claim of misuse of market power for predatory pricing on its cigarettes. Former tobacco store owners Anthony, Rebecca and Michael Rachelle have brought the claim against the supermarket giant which will be heard in the Federal Court on Friday. Anthony and Rebecca Rachelle owned a cigarette store in the town of Cowes on Phillip Island and Michael Rachelle owned a store in Kilmore, just north of Melbourne. They claimed […]
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Costco opens petrol station near Perth Airport

5 years ago
Costco Perth reached a milestone today, with the American supermarket giant opening it’s petrol station near Perth Airport. And with the price wars on for petrol around Perth, there were many happy customers taking advantage of the cheap fuel. The discount store also announced its massive warehouse will open ahead of schedule on March 19. The price at the bowser today was $1.18 per litre, around 10 cents cheaper than the average price of petrol […]
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