Viva's Scott Wyatt on a fire and a fuel crisis
4/24/202630 min
A fire at one of Australia’s last two refineries would be a big story at any time. In the middle of a fuel shock, it becomes something else.
Viva Energy is at the centre of a very difficult moment for Australia’s fuel system. As the Geelong refinery deals with the fallout from last week’s fire, and conflict affecting the Strait of Hormuz continues to drive prices higher, Alan Kohler asks what it means for a country that now has very little refining capacity left.
It’s a conversation about supply, security, refining capacity, and how Australia ended up so exposed when global energy markets go wrong.
Viva Energy CEO Scott Wyatt joins Alan Kohler to unpack it all on That's Business with Alan Kohler.
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First 90 secondsAnnabel Crabb0:00
[pensive music] This is an ABC podcast. [playful music] Hello, I'm Annabel Crabb. Now, I wouldn't say I'm a hoarder exactly, but I do hang on to things. It's not just you and me. Australia's oldest library is crammed with stuff that isn't books. Terrible paintings, old menus, human hair. Is this history or hoarding? Come and have a rummage through the story of us told by our stuff. Search for the History or Hoarding podcast on ABC Listen or wherever you get your podcasts.
Alan Kohler· Host0:35
[pensive music] Alan Kohler here with That's Business, part of the ABC business daily feed. And this week we've got Scott Wyatt, the CEO of Viva Energy, owner of the Geelong Oil Refinery and a network of Shell service stations and convenience stores. And also owner of Australia's most poorly timed fire. The refinery caught fire last Wednesday night in the midst of a war that's closed the Persian Gulf, the Strait of Hormuz, and sent fuel prices soaring. So the question now is, what will be the long-term impact of both the fire and more importantly, the war? And also, how did Australia end up with two refineries down from 10? Should we have more of them? Or will we end up with none, as we did with car manufacturers? Let's ask Scott Wyatt, the CEO of Viva Energy. Welcome to That's