Australia’s Ampol third-quarter Lytton refining margin more than doubles

Ampol, Australia's leading fuel retailer, reported a significant surge in refining margins at its Lytton refinery in the third quarter, with margins increasing by 125% compared to the same period last year, according to Reuters on October 19. The Lytton refinery's refining margin rose to $23.92 per barrel, up from $10.64 per barrel in Q3 2022.

The improved margins can be attributed to the supply disruptions caused by the ongoing conflict in the Middle East, which have had a net favorable impact on Ampol's integrated supply chain. Ampol's maintenance work at the Lytton refinery's Fluidised Catalytic Cracking Unit, identified during an inspection, is expected to lower production of gasoline, diesel, and jet fuel by 150 million litres in the fourth quarter, compared to previous estimates.

The refinery's total group sales volume for Q3 2023 stood at 6,245 million litres, an increase from 6,028 million litres in the same period a year earlier.