Ampol reveals Lytton failure will hit profit but not petrol supply
Ampol has been forced to import gasoline after a technical failure at its Lytton refinery, in Brisbane.
Ampol's Lytton refinery produced $100m in earnings for the half year. (Image supplied).
The company said the failure related to a fluidised catalytic cracking unit, a crucial step in the production of petrol.
Ampol said it had stopped operating the FCCU to conduct maintenance on a valve and it would not return to production until early May.
“During this time, the refinery will continue to operate, producing diesel and jet (fuel), with the impact largely to the production of gasoline,” the company said this morning.
“Ampol does not anticipate any disruption in supply to customers with replacement finished product currently being secured through its trading and shipping capability.”
It said the financial impact on its earnings before interest and tax would be between $30 million and $50 million, which included the cost of repair and lost opportunity from the sale of gasoline.
The company said market conditions were still favourable.
Australia already imports a majority of its refined fuel.
In November, the Albanese Government said that from July this year, the minimum stockholding obligation would require Australia’s two refineries and major importers of refined fuels, to hold baseline stocks of petrol for 24 days, increasing to 27 days in 2024 for importers.
