Viva Energy (ASX:VEA) has released its Q1 2026 operating update, demonstrating a resilient performance despite global supply chain disruptions.
The company reported a 5.1% increase in total group sales volumes, reaching 4,302 ML, driven primarily by a 7.1% jump in commercial & industrial fuel volumes.
While the core fuel & convenience network remained stable at 982 sites, a strategic shift was evident: OTR sites grew by nearly 17%, offsetting a contraction in Express sites as the company continues to optimise its retail footprint.
The Geelong Refining Margin surged to US$22.0/bbl, a staggering 176.6% increase compared to the same period last year.
The windfall comes at a critical time as the conflict in the Middle East continues to disrupt traditional crude flows through the Strait of Hormuz.
Viva Energy remains largely insulated from these shocks; the Geelong refinery predominantly sources crude from the Americas, Southeast Asia, and Australia, ensuring supply security through at least July.
To further bolster national energy resilience, Viva Energy has entered into an agreement with the federal government to purchase additional fuel cargoes beyond its standard requirements.
While convenience sales saw a slight 6.1% dip, the overall outlook remains optimistic.
At the time of reporting, Viva Energy’s share price was $2.40.