Released September 09, 2020 | PERTH, AUSTRALIA
en
Viva Energy's Geelong Refinery in Geelong, Victoria, west of Melbourne, has been negatively affected by the COVID-19 pandemic. Processing units are undergoing maintenance as the refinery has been producing at lower levels, due to government restrictions on mobility and workplaces that have negatively affected fuel demand.
In the short term, it is hoped that restrictions will be relaxed and fuel demand will recover enough to allow full production in November. But the longer term outlook is bleaker, given the considerable decline in the global demand for oil products, which continues to weigh on regional refining margins and will take some time to recover.
Viva Energy is working closely with the Australian Government and is studying other options to address operating losses, including a full shutdown of the facility. An update is expected in October, when the third-quarter trading results are known.
Click here for a list of projects associated with the Geelong Refinery, and see map below.
In the short term, it is hoped that restrictions will be relaxed and fuel demand will recover enough to allow full production in November. But the longer term outlook is bleaker, given the considerable decline in the global demand for oil products, which continues to weigh on regional refining margins and will take some time to recover.
Viva Energy is working closely with the Australian Government and is studying other options to address operating losses, including a full shutdown of the facility. An update is expected in October, when the third-quarter trading results are known.
Click here for a list of projects associated with the Geelong Refinery, and see map below.
