VIVA ENERGY COMPLETES SHELL AVIATION ACQUISITION FOR $337M

VIVA ENERGY COMPLETES SHELL AVIATION ACQUISITION FOR $337M
PETROLEUM company Viva Energy Australia has completed the purchase of Shell's Australian aviation arm for $337 million, as it aims to consolidate its position as a major player in the airline fuel industry.

Viva Energy is the exclusive licensee of the Shell brand for fuel distribution in Australia and supplies more than a third of the country's aviation fuel requirements.

"Australian airlines and regional airports need fuel suppliers who have a national supply chain, provide reliable service, and are prepared to invest in infrastructure to help them grow," says Viva CEO Scott Wyatt.

"Viva Energy is already well positioned to supply major metropolitan airports, as well as the 40 smaller airfields where we have refuelling infrastructure, but there is room to grow."

As part of the acquisition, Viva has already promised to construct additional jet fuel storage in Melbourne and will upgrade trucking facilities in Geelong.

Wyatt says the company is also ready and prepared to take on the fuel demands for the recently announced Western Sydney Airport.

"Our fuel import terminal in Sydney's west is well placed to offer a solution for the recently announced Western Sydney Airport, and we intend to be a supplier to our customers at this airport when it is opened," says Wyatt.

"It's certainly an exciting time and we look forward to working with our new airline customers and airports that we supply to support their respective growing businesses."

In addition to its 950 plus Shell branded service station network and its Geelong Refinery, Viva Energy operates aviation, bulk fuels, bitumen, marine, chemicals and lubricants businesses supported by more than 20 storage terminals across the country.

Never miss a story: Sign up to Business News Australia's free news updates

Follow us on Twitter, Facebook, LinkedIn and Instagram

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Crypto staking: a new way to earn passive income
Partner Content
You may be familiar with traditional ways of earning passive income such as trading sto...
Etoro
Advertisement

Related Stories

The Star “cleansing” continues with more management resignations

The Star “cleansing” continues with more management resignations

Evidence given today at a review into casino and resort operator Th...

Drone tech company Aerologix flying high after closing $4.2 million raise

Drone tech company Aerologix flying high after closing $4.2 million raise

Sydney-based drone tech company Aerologix is taking its operations ...

Spilling into the market: Ulu Hye cracks deal with Woolworths

Spilling into the market: Ulu Hye cracks deal with Woolworths

Plant-based milk start-up Ulu Hye has announced it will be launchin...

Incitec Pivot to split explosives, fertilisers businesses after record profits

Incitec Pivot to split explosives, fertilisers businesses after record profits

Following a record performance for the first half, Incitec Pivot (A...