Business
Ampol’s oil refinery sinks to loss as virus drains fuel demand – Sydney Morning Herald
Ampol has detailed the severity of COVID-19’s impact as travel restrictions wipe demand and send its oil refinery sinking to a $59m loss.
Australian fuel supplier Ampol has detailed the severity of COVID-19’s impact on its operations as travel restrictions wipe out demand and send its oil refinery sinking to a loss of nearly $60 million.
Ampol, formerly Caltex Australia, told shareholders on Tuesday it was suffering “unprecedented challenges” amid the pandemic’s devastating effect on petrol and jet fuel consumption so far this year as flights remain grounded and cars parked in driveways.
One of the first newly rebadged Ampol sit…
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