All 710 Coles Express sites across Australia will be rebranded after the supermarket giant sells its fuel and convenience stores to Viva Energy in $300 million deal.
EnergyAustralia to shore up last two oil refineries with up to $1.8 bln
Renju JoseSonali Paul
3 minute read
Australia has reached a deal to keep its last two oil refineries open with up to A$2.3 billion ($1.8 billion) in support until 2030 to ensure the country s long-term fuel security amid tough competition from Asian refineries.
The package will help Ampol Ltd (ALD.AX) and Viva Energy Group (VEA.AX) keep their refineries open until at least 2027 and save 1,250 jobs across the two plants, Prime Minister Scott Morrison said.
Investors applauded the big subsidies, sending Ampol s shares up nearly 10% and Viva s shares up as much as 9%.
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