Viva Energy Group (ASX:VEA) announced that its full-year guidance for capital expenditure remains unchanged.
The company has completed the transition of Coles Express and is working towards finishing the acquisition of OTR Group by the end of this year.
Commercial & Industrial earnings are expected to moderate through the rest of the year.
The replacement of crude oil with additional imports of refined products has also impacted Gross Refining Margin (GRM) in Q2 2023.
Viva Energy Group (ASX:VEA) anticipates restarting Platformer #3 along with associated downstream units, and return to full production by early September.
The Energy & Industrials division is well set to benefit from recent improvement in regional margins when full refining production resumes in early September.
Despite a good headway on the Ultra Low Sulfur Gasoline (ULSG) Project, completion is not expected until the second half of 2025.
The firm has so far invested A$84 million in the ULSG Project, and predicts a combined investment of about A$350 million for both the ULSG project and anticipated further changes to fuel specifications.
The company also anticipates sustained strong demand across all its Commercial & Industrial business for the remainder of this year.
Viva Energy Group (ASX:VEA) is a company engaged in the distribution of refined oil products.