Ampol Limited (ALD)
All research reports and stock updates for Ampol Limited.
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Not so refined
Asian refining margins (a proxy for the ALD refining margin) have slipped below US$10/bbl after a brief period of recuperation following Ampol’s unplanned outage at the Lytton Refinery in 1H23.
Mark of the year
Ampol’s cracking half-year result has the company barrelling headlong towards a very large share buyback.
Full tank
A confluence of factors have tightened the refining market leading to incredibly strong refining margins for Ampol.
Cash from clunkers
There is an old Aussie saying that New Zealand is about ten years behind Australia. In terms of its car fleet, that is not inaccurate.
Full throttle ahead
In a similar story to Viva Energy, Ampol Australia's third quarter was heavily affected by lockdowns in NSW, Victoria and New Zealand. Fuel and shop sales were squashed but will revive quickly as the state economies re-open. Refinery earnings were surprisingly good considering the situation.