Corrected: UPDATE 1-Ampol's Lytton quarterly refining margin more than triples on higher oil prices

Ampol

30/07/2026 01:41

Corrects paragraph 7 to say quarterly sales volume declined from last year, not increased
July 30 (Reuters) - Australia's Ampol ALD.AX on Thursday reported a 255% jump in second-quarter refining margins at its Lytton refinery, buoyed by a surge in oil prices linked to the Middle East conflict and disruptions to shipping through the Strait of Hormuz.
The country's top fuel retailer said its Lytton refining margin rose to $30.93 per barrel from $8.71 per barrel a year earlier.
Shares of Ampol rose as much as 3.4%, marking their highest level since April 2024. 
The stronger refining margin underscores how geopolitical tensions in the Middle East boosted profitability for regional refiners during the period, as concerns over supply disruptions lifted fuel prices.
Ampol said the prolonged closure of the Strait of Hormuz has tightened crude supplies to Asian refiners, reducing refinery activity and driving up refined fuel margins due to product shortages.
The fuel retailer also said its first-half replacement cost operating profit (RCOP) EBIT is expected to be about A$1.35 billion ($965 million), more than triple the level a year earlier.
Total sales volume was 6,176 million litres for the second quarter, a decline from 6,304 million litres a year earlier.
Ampol also flagged a production impact of about 300 million litres (ML) from a planned maintenance shutdown between August and October. 

($1 = 1.4368 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh and Aamir Shaik Khalid in Bengaluru; Editing by Sherry Jacob-Phillips)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com; Aamir.SheikKhalid@thomsonreuters.com))