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Australia's fuel crisis deepened overnight with a fire breaking out at Viva Energy’s (ASX:VEA) Geelong oil refinery. Firefighters have been battling the fire at the Corio plant, which can process 120,000 barrels a day of oil and is one of only two refineries still operating in Australia. Energy Minister Chris Bowen said there would be an impact on production of fuel from the refinery. "The fire is not yet under control. So, there's still some way to go. This is not a positive development, but obviously there's a long way to go in terms of working out just what the impact is...
“At this point, production of jet fuel and diesel is continuing at the refinery at reduced levels for safety reasons, as a precaution,”
Viva also operates 1300 Shell petrol stations across the country and runs a fuel and oil distribution network that supplies 25 per cent of Australia’s fuel. It is also the sole Australia manufacturer of aviation fuel.
Ampol (ASX:ALD) shares are spiking on the back of Viva Energy's refinery fire... Ampol runs the other of Australia’s two remaining oil refineries.
And checking Santos (ASX:STO) shares as it holds its AGM- With chairman Keith Spence announcing he will be departing in April 2027 from the position heading the boardroom of the oil and gas major. Spence has been chairman of Santos since 2018.
AMP's (ASX:AMP) Platforms net cash flows jumped 45 percent to 1.1 billion dollars in the first quarter. The superannuation division also improved markedly, cutting outflows by a quarter. CEO Blair Vernon says new adviser relationships and a new retirement portal are driving the momentum. The bank's digital deposit product is also scaling fast, growing to 942 million dollars. And AMP is returning cash to shareholders with a 150 million dollar share buyback now underway.
Netwealth (ASX:NWL) reported $4-billion in net inflows for the March quarter. That offset $3.7 billion in market driven declines to lift total funds under administration to nearly $126-billion dollars. The result was driven by continued adviser demand with inflows rising nearly 20 percent to $7.6 billion over the year. The company added more than 4000 new accounts and 41 new intermediary relationships, while flagging a $600B addressable market opportunity through its pilot individual HIN solution launching in July.
Flight Centre Travel Group (ASX:FLT) has wrapped up its $200 million share buyback program, pulling 16 million shares out of circulation. That's about 7 percent of the company's issued capital. Management's also retiring $100 million in convertible notes next month—debt that was issued during COVID. The moves are part of a broader capital strategy that includes picking up two UK travel businesses while looking to offload its stake in the Pedal Group bike venture for $61.7 million.
Australian Ethical (ASX:AEF) reported $13.57 billion in FUM at 31 March 2026, supported by positive superannuation net flows of $0.10 billion during Q3. The company secured a new $50 million not-for-profit client and launched the Growth Opportunities Fund with a cornerstone institutional commitment of up to $125 million from the Clean Energy Finance Corporation.
