Ampol Refining Margins Soar on Middle East Disruptions
Australian fuel supplier Ampol reported a significant increase in first-half 2026 earnings, driven by higher refining margins and trading opportunities created by disruptions to global oil and refined-product flows.
The company's Replacement Cost Operating Profit (RCOP) EBITDA, excluding significant items, surged 152% year-over-year to A$1.64 billion for the six months ended June 30, while RCOP net profit attributable to shareholders rose to A$857.2 million from A$180.2 million.
The biggest earnings improvement came from Ampol's Fuels and Infrastructure division, where RCOP EBIT jumped to A$1.13 billion from A$118.3 million a year earlier.
Ampol attributed the increase in part to the Lytton refinery, which accounted for much of that increase, with RCOP EBIT rising to A$533.4 million from just A$1.1 million a year earlier.