Vizyco AU

Tag: refinery

  • Geelong refinery boss defends soaring fuel profit margins saying ‘they need to make money’ | Aust…

    Geelong refinery boss defends soaring fuel profit margins saying ‘they need to make money’ | Aust…

    Explore the latest developments concerning Geelong refinery boss.

    Geelong refinery boss defends soaring fuel profit margins saying 'they need to make money'

    The Viva refinery provides about 10 per cent of Australia's fuel. (ABC News: Danielle Bonica)

    Viva Energy's chief executive, Scott Wyatt, has defended a massive jump in the company's refining profit margins amid surging fuel prices.

    Earlier this week, Viva reported a Geelong refining margin of $US22 a barrel over the first quarter, only one month of which was affected by the spike in oil prices associated with the Iran conflict.

    Those margins were almost three times higher than the $US7.90 a barrel recorded in the first quarter of last year, and come on top of the rise in crude oil prices, which are up about $US30 a barrel since the beginning of the Iran war on February 28.

    Australia's Viva Energy posts three-fold jump in quarterly Geelong refining margin

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    This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Kuwait desalination plant, oil refinery hit by missile and drone strikes | Kuwait says power, des…

    Kuwait desalination plant, oil refinery hit by missile and drone strikes | Kuwait says power, des…

    Explore the latest developments concerning Kuwait desalination plant,.

    Kuwait desalination plant, oil refinery hit by missile and drone strikes

    Meanwhile in UAE, 12 people were injured by debris fall and Oracle and Amazon Web Services data centres were hit.

    An air strike has hit a power and desalination plant in Kuwait.

    And 12 people have been injured in the United Arab Emirates as missiles were intercepted causing debris to fall, authorities in both countries said.

    Gulf nations continue to face retaliatory strikes on the 35th day of the war by the United States and Israel on Iran.

    Kuwaiti authorities blamed Iran for the strike before midday on Friday. The plant was not identified and the extent of the damage isn’t known.

    US-Iran War LIVE: Indian worker killed in Kuwait; trade disruptions drive oil past $115

    The war between US-Israel on side and Iran on the other has crossed the one-month mark, with the conflict showing no signs of resolution despite talk of negotiations.

    Over the weekend, the Iran-backed Houthis of Yemen joined Tehran in its fight against Washington and Tel Aviv, sparking fears of further disruption to global trade amid the effective closure of the Strait of Hormuz.

    Energy prices, meanwhile, continue to climb, with the Brent crude benchmark hitting $115 as of 0000 hrs GMT on Monday.

    Since US President Donald Trump, last week, backed down from strikes against Iran's energy infrastructure citing good and productive talks, there's been little to indicate any progress towards a ceasefire.

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  • Chaos as explosion rocks major US refinery | Huge Texas oil refinery explosion forces residents t…

    Chaos as explosion rocks major US refinery | Huge Texas oil refinery explosion forces residents t…

    Explore the latest developments concerning Chaos as explosion.

    Explosion at Valero refinery in Port Arthur prompts shelter-in-place for west side residents

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    PORT ARTHUR, Texas — An explosion and large plume of smoke at the Valero refinery in Port Arthur prompted officials to order west-side residents to shelter in place, while nearby Nederland reported no impact from the incident Monday.

    The shelter-in-place was issued for the west side of Port Arthur from Stilwell West to South of 73. Pleasure Island and Sabine Pass are included in the shelter-in-place.

    Antonio Mitchell with the Port Arthur Fire Department confirmed an incident at the Valero facility.

    "The type of incident is unknown at this time," Mitchell said not long after the explosion as his crews headed to the scene.

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