Does Ampol (ASX:ALD) Expect Supply Disruption From the Extended Lytton Turnaround? 3Q 2026 Trading Update

Sonal Goyal

27 October 2026 08:49 PM AEDT

Does Ampol (ASX:ALD) Expect Supply Disruption From the Extended Lytton Turnaround? 3Q 2026 Trading Update

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Key Highlights

Ampol reported a 3Q 2026 Lytton Refiner Margin of US$23.92 per barrel, compared with US$10.64 per barrel in the prior corresponding period.
The company is carrying out additional reliability works during the Lytton turnaround, with the FCCU expected to restart in mid-November.
Ampol announced the proposed acquisition of Evie Networks on 1 October 2026, subject to ACCC clearance.

Ampol Limited (ASX:ALD) shares closed at $40.00 on 27 October 2026, up 0.93% in the session. The S&P/ASX 200 closed at 8,850.1 (+0.46%) and the energy sector index finished at 11,074.7 (+0.63%). Brent crude slipped 0.60% to US$115.15 as diplomatic efforts around the U.S.-Israeli war with Iran eased concerns about further regional escalation. Ampol is an energy company with an integrated supply chain that includes the Lytton Refinery, a fuels and infrastructure business, Convenience Retail and operations in New Zealand.

Latest Development: 3Q 2026 Trading Update

On 19 October 2026, Ampol provided an update on trading for the nine months to 30 September and the third quarter. The company reported that Group RCOP EBIT for the quarter grew compared with the 2H 2025 quarterly average, and attributed this to its integrated supply chain and the continued growth of Convenience Retail earnings.

Refining benefited from elevated regional margins, partly offset by higher landed crude premiums and the turnaround and inspection (T&I).
Fuels & Infrastructure (ex-Lytton) benefited from supply optimisation and trading conditions.
Core Ampol network headline shop sales rose by a double-digit percentage on 3Q 2025, and retail fuel margins were broadly in line with 3Q 2025.
Convenience Retail included earnings from the EG Australia acquisition, and the first U-GO conversion was completed in early October.
New Zealand conditions remained broadly consistent with the first half.

Latest Development: Lytton Refiner Margin and Volumes

The 3Q 2026 Lytton Refiner Margin was US$23.92 per barrel, against US$10.64 in the prior corresponding period, or 21.40 Australian cents per litre on an Australian dollar basis. The year-to-date margin was US$27.05 per barrel, against US$8.45. Refinery production in the quarter was 1,137 ML, reflecting the planned T&I. Group sales volume was 6,245 ML in 3Q 2026, up 3.6%, and 18,546 ML year to date, up 0.4%. Convenience Retail volumes were 1,256 ML, up 45%, while Australian wholesale volumes were 2,081 ML, down 19%, and international volumes were 1,841 ML, up 23%. The company noted that EG Australia volumes were realigned from wholesale to Convenience Retail after the acquisition.

Latest Development: Reliability Works, Evie Networks and Market Conditions

During inspection of the Fluidised Catalytic Cracking Unit, management identified additional reactor refractory relining work and decided to bring forward maintenance on a crude unit. Ampol said customer supply is not expected to be affected, but production of petrol, diesel and jet fuel is expected to be about 150 ML lower in 4Q 2026 than previously anticipated. Commissioning of the Ultra Low Sulfur Fuels project is now expected in 1Q 2027, with no material earnings impact expected and the capex outlook unchanged. Ampol said the Evie Networks acquisition is a further step in its strategy to develop an e-mobility charging network. Battery electric vehicle sales in Australia were 76,898 in 3Q 2026, and BEV sales in Australia over the 12 months to 30 September 2026 were 207,578, up 112% on the prior corresponding period. It described geopolitical tensions in the Middle East as net favourable for its integrated supply chain, while noting that the unique first-half trading environment has not recurred.

Risks and Catalysts on Watch

Items identified in the update include:

The FCCU is expected to restart in mid-November 2026.
Production of higher-value products is expected to be about 150 ML lower in 4Q 2026 than previously anticipated.
Ultra Low Sulfur Fuels commissioning is now expected in 1Q 2027.
The Evie Networks acquisition remains subject to ACCC clearance and is expected to complete in 1H 2027.
Ampol referred to an escalation of Middle East tensions and ongoing constraints in the supply of fuel products.

Final Word

Ampol's 19 October 2026 update set out third-quarter trading, the Lytton margin, an extended refinery maintenance program and the status of the Evie Networks transaction. The company stated that it continues to maintain fuel supply to Australia and New Zealand, and that initial integration activities for EG Australia are progressing to plan.

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