2121 GMT - Jefferies's price targets on Ampol and Viva Energy rise after Australia's government resets the Fuel Security Services Payment. Payment now starts at A$0.10 per liter, equivalent to around US$11.10 a barrel. That's higher than 6.4 Australian cents per liter, or US$7.22 per barrel, on offer before. Analyst Michael Simotas says the change is positive but probably won't be needed, given a very strong refining backdrop. "More important, it reinforces crucial importance of Australia's last two refineries to fuel security and positions Viva and Ampol well to negotiate favorable long-term solution," Jefferies says. It sees a path to something like a regulated return on refinery capital, which would be positive for valuations. Jefferies's price target for Ampol rises 14% to A$36.50/share, and lifts 16% to A$2.20/share for Viva. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

March 22, 2026 17:21 ET (21:21 GMT)

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