Viva Energy provides Refining and unaudited financial performance update

Viva Energy Group Limited (ASX: VEA) provided an update on refining performance and unaudited financial performance for the four months ended 30 April 2022.

VEA highlighted that since the end of March 2022 quarter, there was a substantial and sustained broadening of the gap between the international price of refined products as well as crude oil cost. Robust global demand for refined products, particularly diesel, plus tightening supply due to refinery closures, lessened exports from China along with the wider effect of sanctions on the purchase on Russian oil, are driving stronger refining margins.

• Actual Geelong Refining Margin achieved in April 2022 was US$26.4/BBL.
• For the four months ended 30 April 2022, VEA’s unaudited EBITDA (RC) is ~AU$308 million, up 65% compared to the previous corresponding period.

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