News: VEA Viva Energy Group Says Full-Year Guidance For Capital Expenditure Remains Unchanged

Aug 22 (Reuters) - Viva Energy Group Ltd (VEA) :

• FULL-YEAR GUIDANCE FOR CAPITAL EXPENDITURE REMAINS UNCHANGED
• HAVE COMPLETED TRANSITION OF COLES EXPRESS AND ARE WORKING TOWARDS COMPLETING THE ACQUISITION OF OTR GROUP BY END OF THIS YEAR
• COMMERCIAL & INDUSTRIAL EARNINGS ARE EXPECTED TO MODERATE THROUGH REMAINDER OF THIS YEAR
• REPLACEMENT OF CRUDE OIL WITH ADDITIONAL IMPORTS OF REFINED PRODUCTS ALSO IMPACTED GRM IN 2Q2023
• EXPECT TO RESTART PLATFORMER #3 ALONG WITH ASSOCIATED DOWNSTREAM UNITS AND RETURN TO FULL PRODUCTION BY EARLY SEPTEMBER
• E&I WELL POSITIONED TO TAKE ADVANTAGE OF RECENT IMPROVEMENT IN REGIONAL MARGINS WHEN FULL REFINING PRODUCTION RESUMES IN EARLY SEPT
• PLANNING AND INVESTMENT IN ULSG PROJECT WELL UNDERWAY, BUT COMPLETION OF PROJECT IS NOW NOT EXPECTED UNTIL SECOND HALF OF 2025
• TO DATE, A$84 MILLION HAS BEEN INVESTED IN ULSG PROJECT
• EXPECT COMBINED INVESTMENT OF ABOUT A$350 MILLION FOR BOTH ULSG PROJECT AND ANTICIPATED FURTHER CHANGES TO FUEL SPECIFICATIONS
• EXPECT CONTINUED STRONG DEMAND ACROSS ALL OUR C&I BUSINESSES THROUGH REMAINDER OF THIS YEAR