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Viva Energy Group Limited (ASX:VEA)

ALERT: Price-sensitive ASX Announcement for VEA
Current share price for VEA : $3.040 0.46 (17.83%)+
Announcement
Release
20 Mar 2026 10:10AM
Price at Release
$2.580
Full Release
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Summary
The Federal Government of Australia has renewed its support for the domestic refining sector by updating the Fuel Security Services Payment (FSSP) for Viva Energy's Geelong Refinery. The changes include an increase in the margin marker cap and collar by 3.6 Australian cents per litre, reflecting the rise in cash operating costs since the FSSP's inception in 2021. This initiative aims to support the long-term viability of domestic refineries as they play a crucial role in Australia's energy security. Viva Energy, which operates one of the two remaining refineries in the country, has invested significantly in upgrading its facilities and expanding storage capacity. This government support reinforces the company's capacity to meet approximately 20% of the national fuel requirements and underscores the importance of domestic refining in securing energy supplies.
Key Points
  • Federal Government renews support for domestic refining.
  • Increase in Geelong Refinery FSSP Margin Marker cap and collar by 3.6 Acpl.
  • FSSP paid when Geelong Refining Margin Marker falls below 10 Acpl over a quarter.
  • Viva Energy invests around $500 million in facility upgrades and storage expansion.
  • Geelong Refinery produces 50% of Victoria's fuel requirements.
  • Government support critical for long-term domestic refining viability.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.