2142 GMT - Ampol was lucky that tropical cyclone Alfred made landfall in eastern Australia during the fuel refiner and marketer's lowest period of profit margins, Jefferies says. Ampol put its Lytton refinery in Queensland state into safe recirculation mode ahead of the storm's arrival earlier this month. This action cost Ampol around 10 days of production while the storm damaged the floating roof of a crude-oil tank. Analyst Michael Simotas estimates the Lytton Refiner Margin would have been around US$7.50/bbl at the time. This implies around A$10 million in forgone Ebit from some 1 million barrels of lost production, allowing for approximately US$1.00/bbl variable cost mostly comprising lower energy usage, Jefferies says. It retains a buy call on Ampol's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 25, 2025 17:42 ET (21:42 GMT)
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