Ampol’s Lytton Refinery margin continues to grow

Ampol has provided an update on the performance of its Lytton Refinery, revealing a 4.3 per cent refining margin increase.

The Lytton Refiner Margin (LRM) for the fourth quarter remained above historical levels, averaging US$11.75 per barrel, and compares favourably to the US$11.24 per barrel realised in the fourth quarter of 2021, representing a margin increase of 4.3 per cent.

Ampol said that while the Singapore Weighted Average Margin (SWAM) was in line with the third quarter of 2022, higher crude premiums and lower product freight versus crude freight spread reduced the realised LRM for the fourth quarter.

In a brief update at group level, Ampol revealed that fourth quarter RCOP EBIT on an unaudited basis is anticipated to be slightly ahead of the third quarter result, while Convenience Retail and Z Energy continued to perform well.

Earlier in the week, it was announced that the refinery is set to be upgraded to deliver lower fuel emissions and improve fuel security.

The performance update comes ahead of Ampol’s 2022 Full Year Results, which are scheduled to be released on 20 February 2023.

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