Australia's Viva Energy on track for worst day in 11 weeks after crane mishap

Waypoint REIT

07/06/2023 01:50

** Shares of Australia's Viva Energy  VEA.AX  fall as much
as 3.4% to A$3.090, set to mark worst day since March 20, if
losses hold 
    ** Stock hits lowest since May 10 and emerges as the
second-biggest loser on ASX200 Index  .AXJO    
    ** The oil refiner says a failure of contractor crane at its
flagship Geelong refinery in Victoria led to a compressor being
dropped to the ground on Tuesday afternoon
    ** Co expects a refining earnings before interest, tax,
depreciation and amortization loss between A$25 mln and A$35 mln
($16.69 mln and $23.37 mln) per month during the period of
repair due to production and margin impact 
    ** Stock up 17.2% this year, as of last close

    ($1 = 1.4963 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))