Viva’s fire in a fuel crisis — How exposed is Australia? | That’s Business with Alan Kohler
A fire at one of Australia’s last two refineries would be a big story at any time. In the middle of a fuel shock, it becomes something else.
Viva Energy is at the centre of a very difficult moment for Australia’s fuel system. As the Geelong refinery deals with the fallout from last week’s fire, and conflict affecting the Strait of Hormuz continues to drive prices higher, Alan Kohler asks what it means for supply, fuel security, and a country that now has very little refining capacity left.
It’s a conversation about supply, security, refining capacity, and how Australia ended up so exposed when global energy markets go wrong.
Viva Energy CEO Scott Wyatt joins Alan Kohler to unpack it all on That’s Business with Alan Kohler.
Chapters:
00:00 – Intro to Scott Wyatt, CEO of Viva Energy
00:56 – Fire at Viva’s Geelong refinery
02:54 – What went wrong?
03:15 – Investigation of the cause
05:13 – Production impact
06:15 – How long to bring full production back online?
07:00 – Viva Energy trading update
08:41 – Prices for consumers
12:28 – Government support for refineries
13:46 – Challenges during COVID and future of refining
15:03 – How many refineries should Australia have?
18:58 – Would Viva be inclined to build another refinery?
20:03 – Will hydrocarbons make a comeback?
22:20 – Impact on supply from Strait of Hormuz closure and blockade
24:33 – Supply of oil from Asia
26:28 – When does the crunch happen?
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