2150 GMT - The power outage that forced Viva Energy's Geelong refinery temporarily offline serves as a reminder of the fragility of refineries and the operating deleverage when such incidents occur, Jefferies says. In a note, analyst Michael Simotas says the plant's restart should be relatively straightforward and the impact on Ebitda will likely be modest. Still, it will compound planned 2H maintenance, making 2025 a weak year for refining, Jefferies says. "Refining is becoming a smaller contributor and we remain positive on Viva Energy given the resilience of Commercial and upside from Retail," the bank says. It retains a A$3.50/share price target on Viva Energy, which ended Monday at A$2.67. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 13, 2025 16:50 ET (21:50 GMT)
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