Sydney, June 25, 2026, 07:08 (AEST)
- Ampol finished Wednesday down 0.9% at A$32.69, logging a second day in the red.
- Brent gave up 4.3% to close at $73.74 a barrel, marking the weakest finish since before the Iran war.
- Ampol said it plans to finish its A$1.1 billion deal for EG Australia on June 30, with the company agreeing to sell 41 sites to get it done.
Ampol Ltd will open Thursday on the ASX after dropping 0.9% to A$32.69 on Wednesday. Shares are down 3.7% over four weeks. Still, Ampol is trading about 31% higher than a year ago.
The ASX cash market sat in pre-open at the dateline hour. Continuous trading starts at 09:59:45 Sydney and ends at 16:00.
Ampol started the session Wednesday at A$33.12, then moved in a range between A$32.61 and A$33.14. Nearly 2.87 million shares changed hands, with volume close to triple the usual 975,000-share daily average.
Brent crude dropped $3.34 at the close Wednesday, hit by calmer supply worries and an uptick in tankers moving through the Strait of Hormuz. Tim Waterer at KCM Trade said Iranian output and exports might jump “weeks rather than months” after any sanctions relief. Reuters
Viva Energy Group said it restarted a key processing unit at its Geelong refinery after the fire in April. The Ampol peer expects production at the site to reach over 90% of normal capacity this week. Its alkylation unit, which turns refinery gas into high-octane petrol elements, stays down until 2027.
Ampol says it expects to close the EG deal on June 30, pending final conditions. The company chose to pay the whole amount in cash and is aiming for A$65 million to A$80 million in synergies, mostly from cost cuts as the businesses merge. “We are well advanced in our preparations for integration,” Chief Executive Matt Halliday said. Markit Digital
The ACCC told Ampol to sell 41 sites in 39 local markets to Metro Petroleum. Ampol has 576 stores under its main brand and 46 U-GO sites. EG Australia runs 512 sites. “The deal without these sales could materially reduce competition and reduce choice for Australian motorists,” ACCC Commissioner Philip Williams said. ACCC
A$65 million to A$80 million in synergies is just a target for now, not booked profit. Slower integration could push the benefits out, and any spike in conversion costs would hit the return. Ampol says both timing and the amount of savings still depend on how integration planning and execution play out.
