Ampol’s Lytton Refinery Margin More Than Doubles

Ampol disclosed its trading update for the third quarter and nine months to 30 September 2026. The Lytton Refiner Margin for 3Q 2026 was US$23.92 per barrel, compared with US$10.64 per barrel in 3Q 2025. On an Australian cent per litre basis the LRM was 21.40 Acpl versus 10.22 Acpl a year earlier. Year-to-date LRM was US$27.05 per barrel against US$8.45 in the same period of 2025, a 220% variance. Refinery production during 3Q 2026 was 1,137 ML. Total Group sales volume reached 6,245 ML, up 3.6% from 6,028 ML. Convenience Retail volumes were 1,256 ML versus 864 ML, a 45% variance. Detailed inspection of the FCCU identified additional reactor refractory relining work and an opportunity to bring forward crude unit maintenance. Ampol stated customer supply is not expected to be affected. The FCCU is expected to restart in mid-November 2026, with 4Q 2026 higher-value product output approximately 150 ML lower than previously anticipated. Ultra Low Sulfur Fuels project commissioning shifted to 1Q 2027, with no material earnings or capex impact expected. On 1 October 2026 Ampol announced the proposed acquisition of Evie Networks, subject to ACCC clearance and expected to complete in 1H 2027. Australian Battery Electric Vehicle sales for 3Q 2026 were 76,898 units.