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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Ampol Limited    ALD   AU0000088338

AMPOL LIMITED

(ALD)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/24
23.52 AUD   -0.55%
09/15AUSTRALIA STILL ADDICTED TO FOSSIL FUEL WITH OIL, GAS SUBSIDIES : Russell
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09/14Australia proposes paying oil refiners billions to stay open
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09/07AMPOL LIMITED : Ex-dividend day for interim dividend
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Australia proposes paying oil refiners billions to stay open

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09/14/2020 | 01:39am EDT
FILE PHOTO: Exxon Mobil Corp’s Altona refinery is seen on the outskirts of Melbourne

Australia on Monday proposed offering incentives worth A$2.3 billion ($1.67 billion) over 10 years to keep the country's four remaining oil refineries open and said it would invest in building fuel storage as part of a long-term fuel security plan.

The country's refiners have been battered by the coronavirus-driven collapse in fuel demand, racking up losses which they say threaten the future of their plants as they compete against much bigger refineries around Asia.

"The government is committed to a sovereign on-shore refinery capacity despite the threat to the viability of the industry," Prime Minister Scott Morrison said on Monday.

To shore up near term fuel security, the government said it would include A$211 million in its upcoming budget to boost storage of diesel, crucial for farms, mines, trucks and back-up power.

"The events of 2020 have reminded us that we cannot be complacent. We need a sovereign fuel supply to shield us from potential shocks in the future," Morrison said in a statement.

The government said it would work with the industry to design a "refinery production payment" as an incentive to keep the four plants open. Together with an exemption from new fuel storage requirements, the incentives would be worth about A$2.3 billion over 10 years.

The four refiners - BP Plc, Exxon Mobil Corp, Viva Energy Group and Ampol Ltd - all welcomed the proposals but made no commitment to keep their plants open.

"There's recognition the refining sector is at a bit of a critical crossroads and needs the long-term confidence to maintain operations and investment ... and I think the package goes a long way to achieving that outcome," Viva Chief Executive Scott Wyatt told Reuters.

BP and Ampol Ltd said they needed to see details of the measures to understand the impact on their businesses.

Viva's shares rose 5.4% while Ampol's rose 1.9%, both easily outpacing a 0.6% rise in the broader Australian market.

($1 = 1.3734 Australian dollars)

By Renju Jose and Sonali Paul

Stocks mentioned in the article
ChangeLast1st jan.
AMPOL LIMITED -0.55% 23.52 End-of-day quote.-30.72%
BP PLC -2.84% 232.4 Delayed Quote.-49.28%
EXXON MOBIL CORPORATION -0.20% 34.32 Delayed Quote.-50.72%
GOLD 0.74% 1868.428 Delayed Quote.25.50%
LONDON BRENT OIL 0.58% 41.73 Delayed Quote.-36.73%
OIL REFINERIES LTD. 0.34% 59.9 Delayed Quote.-65.40%
SILVER 5.94% 23.201 Delayed Quote.37.06%
VIVA ENERGY GROUP LIMITED 0.00% 1.675 End-of-day quote.-12.76%
WTI 2.42% 40.328 Delayed Quote.-35.93%
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All news about AMPOL LIMITED
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Financials
Sales 2020 17 652 M 12 404 M 12 404 M
Net income 2020 -584 M -410 M -410 M
Net Debt 2020 1 157 M 813 M 813 M
P/E ratio 2020 -9,84x
Yield 2020 1,98%
Capitalization 5 873 M 4 172 M 4 127 M
EV / Sales 2020 0,40x
EV / Sales 2021 0,34x
Nbr of Employees 7 800
Free-Float 49,6%
Chart AMPOL LIMITED
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Ampol Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AMPOL LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 29,68 AUD
Last Close Price 23,52 AUD
Spread / Highest target 38,6%
Spread / Average Target 26,2%
Spread / Lowest Target 14,8%
EPS Revisions
Managers
NameTitle
Matthew Halliday Chief Executive Officer, MD & Director
Steven Gregg Chairman
Louise Warner Chief Operating Officer
Jeff Etherington Chief Financial Officer
Viv da Ros Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
AMPOL LIMITED-30.72%4 195
RELIANCE INDUSTRIES LTD48.74%192 532
EXXON MOBIL CORPORATION-50.72%145 409
CHINA PETROLEUM & CHEMICAL CORPORATION-34.12%65 411
BP PLC-49.28%61 424
NESTE OYJ55.19%43 182