The story
Viva Energy’s business has operated in Australia for over 120 years, being formerly known as Shell’s Australian downstream business, which was part of the Shell Group.
In August 2014, Viva Energy was created when Vitol Investment Partnership acquired Shell's downstream business in Australia. Vitol retains 29.9% of VEA shares.
In August 2014, Viva Energy purchased a 50% shareholding in Liberty Oil. In February 2019, Viva Energy took full ownership. As part of this acquisition, a new joint venture was established to operate the existing Liberty retail network, Liberty Oil Convenience. The joint venture is 50% owned by Viva Energy (non-controlling) and the other 50% owned by David Wieland and David Goldberger, the founders of Liberty Oil. Viva Energy will gain rights to fully acquire the joint venture in 2025.
In August 2018, Viva Energy acquired 50% of Westside Petroleum, which operated more than 50 service stations across New South Wales, Victoria and Queensland. In May 2020, it acquired the remaining 50% of Westside.
In late 2020 and in response to the COVID-19 pandemic, which had significant impacts on fuel volumes and therefore refining, Viva Energy worked with the Commonwealth government to develop the Fuel Security Package which provided support for national fuel security and ongoing refining operations as well as investment in cleaner fuels production. Announced on 17 May 2021, the Fuel Security Package (FSP) comprised an industry minimum stockholding obligation, capital grants towards upgrading the Geelong Refinery to produce ultra-low sulphur gasoline and build additional diesel storage and the commitment to maintain refinery operations to 30 June 2028 (with a further two-year option to extend until 30 June 2030).
On 3 July 2023, Viva Energy announced a strategic partnership with the Department of Defence to supply aviation, marine and ground fuel to the Australian Defence Force (ADF). It will see Viva Energy play a key role in underpinning Australia’s national security through supply of fuel to the ADF, both locally and internationally.
Viva Energy had a 35.5% stake in Viva Energy Real Estate Investment Trust (Viva Energy REIT, ASX: VVR). It was sold to Charter Hall and Charter Hall Long WALE REIT on 21 February 2020. Viva Energy REIT owns service station and convenience properties. After the sale, in May 2020 Viva Energy REIT changed its name to Waypoint REIT Limited.
In 2022, Viva Energy acquired LyondellBasel Australia business, rebranded Viva Energy Polymers, diversifying into plastic feedstock manufacturing and marketing for its Geelong Refinery operations.
From Wikipedia’s article on Viva Energy, shared under CC BY-SA 4.0.5