MARKETS

Viva crashes into financial loss

REFINING giant and fuel wholesaler Viva Energy will succumb to a financial loss, sinking into the red by as much as $47 million, according to its financial guidance released today, however it appears the closure of the Geelong refinery is off the cards.

paul hunt

On Friday, Viva Energy said it expected a net loss after tax of between $17 million to $47 million, down from a profit of $135.8 million in 2019. Refining costs from its Geelong refinery devoured...

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