Australia's Viva Energy extends losses as Geelong refinery's alkylation unit kept offline
Wed 04:46
BUZZ-Australia's Viva Energy extends losses as Geelong refinery's alkylation unit kept offline ** Fuel retailer Viva Energy VEA.AX deepens losses, tumbling as much as 5.8% to A$1.96 - its weakest level since March 5
** Stocks heads for a third straight decline, ranking among the energy subindex’s .AXEJ worst performers amid a broader 1.4% slide
** VEA on Tuesday said its Geelong refinery’s alkylation unit will remain offline and has been fully isolated from operations
** Co expected its Geelong refinery, Australia’s largest, to run without the alkylation unit through 2027 following damage from an April fire
** VEA down 2.7% YTD and starkly underperforming the energy index’s 13.3% gain
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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