Caltex Australia fuel sales edge lower in March

Refiner and marketer Caltex Australia's sales edged lower in March from a month earlier, hinting at a slowdown in product demand because of the Covid-19 pandemic.

Sales from the firm's 109,000 b/d Lytton refinery in Queensland were 105,000 b/d last month, down from 110,000 b/d in February. Sales were up from 96,000 b/d a year earlier.

Sales in January-March were 108,500 b/d, which is near the plant's nameplate capacity and up from 104,000 b/d a year earlier.

Caltex reported a rise in the refinery margin at Lytton to $4.62/bl in March from $4.14/bl in February, but this was down from $8.67/bl in March 2019. Margins averaged $4.87/bl in January-March, down from $7.53/bl a year earlier.

Caltex is planning to bring forward scheduled maintenance at Lytton by around two months to the start of May because of lower fuel demand and prices.

By Kevin Morrison

source: Argus Media