Highlights

  • FY26 is the final year of Viva Energy’s retail integration program, with independent convenience Supply chains a key execution priority.
  • The company plans to open 40–60 new OTR stores, including conversions, during FY26.
  • The Geelong Refinery received international certification in February 2026 for co-processed renewable diesel and related circular products.
  • Viva Energy’s proposed Geelong gas terminal received federal environmental approval on 1 April 2026.
  • Operational reliability at Geelong remains important after an April 2026 refinery incident temporarily reduced production.

Viva Energy Group (ASX:VEA) is a convenience retailer, commercial services provider and energy infrastructure Business with operations spanning fuel retail, industrial supply and the Geelong Refinery. In 2026, its strategy is centred on completing the integration of its convenience network while advancing projects that broaden the role of Geelong in Australia’s evolving energy system.

Retail Integration Enters Its Final FY26 Phase

Viva Energy has identified FY26 as the final year of its retail integration program. The company is progressing independent convenience supply chains, aligning digital and loyalty functions across its retail brands, and continuing the rollout of the OTR format. Management expects 40–60 new OTR stores, including conversions, during FY26. The objective is to simplify operations, improve supply-chain efficiency and support a more consistent retail proposition across the national network.

Geelong Expands Beyond Conventional Refining

The Geelong site is also being developed as a broader energy and infrastructure platform. On 16 February 2026, Viva Energy said the refinery had received international certification for the production of co-processed renewable diesel. The certification also covers recycled and bio-based polypropylene products manufactured using approved sustainable feedstocks. This creates a framework for the refinery to process selected waste and renewable inputs alongside conventional refinery operations.

Gas Terminal Approval Adds Another Infrastructure Option

On 1 April 2026, the proposed gas terminal at Geelong received federal environmental approval, subject to conditions. The project is designed to use existing refinery-pier infrastructure to support potential LNG imports and improve gas-supply flexibility for south-east Australia. The approval does not by itself determine construction or commercial timing, but it advances the project through a significant regulatory stage.

Operational Reliability Remains a Core Consideration

The refinery also faced an operational disruption in April 2026 after a fire in the gasoline complex. Viva Energy reported that personnel were accounted for and that the site continued operating at reduced rates while inspections were undertaken. The incident highlighted the importance of maintenance, plant availability and fuel-import flexibility within the group’s infrastructure model. For 2026, management has indicated that only minor refining maintenance activities are planned, supporting a focus on production availability.

Key Insights

Viva Energy’s 2026 agenda combines retail execution with infrastructure development. Completing convenience integration could strengthen operating consistency across the store network, while the Geelong initiatives broaden the refinery’s role across conventional fuels, lower-carbon products and potential gas imports. Progress will depend on disciplined retail execution, reliable refinery operations and the commercial development of new energy projects without relying on short-term market movements.