4Q 2022 Lytton Refinery Performance and Trading Update

Source Press Release
Company Ampol LimitedZ Energy Ltd. 
Tags Strategy - Corporate, Refining & Marketing Activities
Date January 18, 2023

Ampol Limited (ASX/NZX:ALD) today provides an update on the Lytton Refiner Margin and Group trading for the fourth quarter of the 2022 financial year.

Lytton Refiner Margin update

The Lytton Refiner Margin (LRM)1 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.

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.

Refinery production for the period was 1,580 ML, increasing from 1,546 ML in the third quarter which included planned maintenance activities.

Group trading update

At a Group level, fourth quarter RCOP EBIT2 on an unaudited basis is anticipated to be slightly ahead of the third quarter result. Fuels and Infrastructure (ex-Lytton) achieved a strong level of profitability due primarily to the improved performance from Trading and Shipping compared to the third quarter, while both Convenience Retail and Z Energy continued to perform well.

More details of the audited results and finalisation of the Purchase Price Accounting adjustments for Z Energy will be provided at the 2022 Full Year Results Release scheduled for 20 February 2023.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd