Jump to content

Ampol

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 201.203.98.163 (talk) at 15:17, 19 June 2020 (→Football). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Ampol Limited
Company typePublic
ASX: ALD
IndustryOil, Fuel and Gas
PredecessorAustralian Motorists Petrol Company (1936–1949)
Ampol Petroleum Ltd (1949–1982)
Ampol Limited (1982–1995)
Australian Petroleum Pty Ltd (1995-1997)
Caltex Australia (1997–2020)
FoundedSydney, New South Wales, Australia (1936) as Australian Motorists Petrol Company Limited
Headquarters
Sydney
,
Australia
Key people
Matthew Halliday (Interim CEO)
ProductsPetrochemical products and retail service stations
Number of employees
7,500 (2020)[1]
Websitewww.ampol.com.au
www.caltex.com.au

Ampol Limited (ASX: ALD) is an Australian petroleum company, with headquarters in Sydney, New South Wales. It was first incorporated in 1936 in New South Wales to market petrol in its chain of service stations. In 1995, Ampol merged with Caltex to form Australian Petroleum, which in 1997 became Caltex Australia. In December 2019, Chevron Corporation, owner of the Caltex trademark, gave notice to terminate the licence agreement for the use of the Caltex brand in Australia. From May 2020, the company officially rebranded as Ampol Limited along with a new logo that will be rolled out across Australia in 2020 and 2021.

History

Former Ampol logo

Early history

Today's Ampol Limited traces its history back to two independent businesses that merged in 1995, Caltex Oil (Australia) Pty Ltd and Ampol (then owned by Pioneer International).

Caltex Oil (Australia) Pty Ltd (1918–1995)

See also: Caltex § Australia

Texaco products were first sold in Australia in 1900. Texas Company Australasia Limited was incorporated in New South Wales in 1918.[2] The Caltex brand name began to be used for the first time in Australia in 1941, five years after the formation of Caltex in the United States.[3] Caltex operated in Australia as Caltex Oil (Australia) Pty Ltd. It opened the Kurnell Refinery in 1956. It took over Golden Fleece in 1981.[4]

Ampol (1936–1995)

The Australian Motorists Petrol Company, simply known as Ampol, was incorporated by Sir William Gaston Walkley in 1936 in New South Wales. This was in response to Australians' concerns about perceived inequitable petrol pricing, and allegations of transfer pricing by foreign oil companies to limit their tax liabilities in Australia.

Walkley, along with William O'Callaghan and George Hutchison, approached the NRMA and offered to help it form a company to market petrol. Whilst deciding not to officially sponsor an oil company, members of the NRMA's board sought investors. In early 1936, an advertisement was printed in the NRMA's periodical publicising the float of Ampol. The first delivery of oil was received at White Bay in December 1937 and, by 1939, Walkley had joined the board of Ampol as managing director.[5]

Caltex store in Bundalong with Ampol sign in 2007

During World War II, Walkley served on the Oil Advisory Committee and the board of Pool Petroleum Pty Ltd, both of which supervised the distribution of petrol. This brought him into contact with Sir George Wales, who owned Alba Petroleum Co. of Australia Ltd, which had a small market in South Australia and Tasmania. In 1945, Ampol purchased Alba Petroleum in an amicable takeover.

The company listed on the Australian Securities Exchange in 1948 and, in 1949, it changed its name to Ampol Petroleum Ltd.[2][6][7]

In 1965, Ampol's Lytton oil refinery in Brisbane, Queensland came on stream.[2] Pioneer International purchased a 20% stake in Ampol in 1979.[8]

In 1982, Ampol purchased the marketing and refining assets of Total Australia and changed its name to Ampol Limited.[9] In 1988, Ampol was fully taken over by Pioneer International and delisted from the ASX the following year.[2][10] The following year, Pioneer purchased Solo Oil, the largest independent retailer and distributor in Australia at that time.[11]

Recent History

Merger between Caltex and Ampol

Prior to 1995, Caltex Oil (Australia) Pty Ltd and Ampol Limited were rivals in the petroleum industry in Australia. However, the two companies were still relatively small compared to other petroleum companies.[1] In May 1995, the two companies merged to form Australian Petroleum Pty Ltd, owned equally by Pioneer International and Caltex.[12][13] At the time, the merged company held a 28% market share in the petroleum industry. After the merger, the Ampol brand remained in use for a number of years at some service stations, primarily in country areas where customer loyalty and strong brand-recognition are factors.[14]

In 1997, Australian Petroleum Pty Ltd was renamed Caltex Petroleum Australia Ltd.[15] The following year, in 1998, Caltex acquired full ownership of the company when Pioneer sold its shareholding of its 90 million shares.[2][16] From then until 2015, Caltex Australia was owned 50% by Chevron Corporation and 50% by ASX shareholders.

On 27 May 2009 Caltex Australia announced a proposal to acquire 302 Mobil and Mobil Quix service stations in Sydney, Melbourne, Brisbane and Adelaide, subject to approval of the Australian Competition & Consumer Commission (ACCC).[17] The ACCC subsequently opposed the takeover on the grounds that the acquisition could result in diminished competition. Caltex subsequently abandoned the acquisition, with Mobil entering into an agreement to sell the same sites to 7-Eleven Australia.[18]

In 2012, Caltex Australia wanted to establish an overseas trading arm to enable the importation of petrol into Australia. As Chevron Corporation already operate the Caltex brand overseas in areas like Singapore, Caltex Australia opted to name their Singaporean business after their former Australian business, Ampol.[19]

Until 2014, Caltex operated two petroleum refineries in Australia: one at Kurnell in Sydney, and one at Lytton in Brisbane, each inherited from Caltex and Ampol respectively. The Kurnell Refinery ceased operations in 2014, and part of the existing infrastructure such as wharfs and tanks would be converted to a fuel importation and blending terminal.[20] The conversion was completed in May 2019.[21]

Chevron sale

In March 2015, Chevron sold its 50% stake in Caltex Australia (the deal valuing the company at $9.24 billion).[22][23] However, Caltex Australia was allowed to continue to use the Caltex brand under a trade mark licence.

In November 2019, Alimentation Couche-Tard (ATD) proposed an offer to acquire Caltex Australia.[24] Initially declined by the Caltex Australia board,[25] ATD proposed an improved offer in February 2020, and the board agreed to further engage with ATD.[26] Separately in the same month, the EG Group also proposed an offer to acquire Caltex Australia, which was declined by the Caltex Australia board.[27][28] In April 2020, ATD decided not to proceed with its acquisition proposal due to the high level of economic uncertainty caused by the COVID-19 pandemic, but will seek to re-engage once there is sufficient clarity to the global economic outlook.[29]

Rename to Ampol

In December 2019, Caltex Australia announced that Chevron had given notice to terminate the trade mark licence agreement for the use of the Caltex brand in Australia.[30][31] Caltex Australia proposed to rebrand itself back as Ampol, which was approved by more than 99% of shareholders during the annual general meeting on 14 May 2020.[32][33] Caltex Australia will rebrand some of its sites in Sydney and Melbourne in the second half of 2020, and nationally in 2021.[34]

The licence agreement termination followed Chevron announcing it would re-enter the Australian market, having purchased Puma Energy's Australian operations.[35] Caltex Australia cited continued high recognition and regard for the brand, with the move is expected to save the company $20 million per year in licensing fees.[36]

Store Formats

Ampol and Caltex branded sites can have any of the following types of convenience store formats:

  • Star Mart: A large store containing a bakery, coffee and hot food as well as convenience items and an ATM, with toilets usually located inside and often open 24 hours. In 2009, the New Zealand operations were sold off and rebranded as Fix stores,[37][38][39] which in turn were rebranded as Night 'n' Day from 2017.
  • Star Shop: A smaller store with just convenience items and packaged foods and limited operating hours.
  • The Foodary: Large Sites containing fresh healthy food, a bakery, coffee, convenience items and an ATM. Other retailers such as Boost Juice and Guzman y Gomez are co-located on selected The Foodary sites.[40]
  • Woolworths Metro: A mini Woolworths convenience store offering a smaller range of items such as fresh food found at the major Woolworths Supermarkets, along with offering Coffee and containing a co-located Boost Juice outlet.[41]
  • Co-Branded: Ampol supplies the fuel for an external provider who operates their own store format. An example of this is EG Group via their acquisition of the former Caltex Woolworths joint-venture. These sites often display a Caltex or Ampol logo on both the Pylon Signs and Canopy with the convenience store using its own branding.

Euro Garages Australia

Signage of an EG/Caltex service station in Marayong
Main article: Euro Garages Australia

In 2003, Caltex Australia entered into a joint venture agreement with large supermarket retailer Woolworths Limited.[42] Shortly after in 2004, a similar fuel discount offer was launched by rival Coles Group. Woolworths' existing "Plus Petrol" service stations received Caltex branding and, similarly, Caltex service stations received Woolworths branding—the joint venture outlets became Caltex Woolworths. However, this was the case only with certain Caltex service stations close to Woolworths Supermarkets and many remain unassociated with the fuel discount offer until November 2018, when 125 Caltex-operated sites also began to accept the fuel discount offer.[43]

In April 2019, Woolworths sold all its 540 fuel stores to EG Group.[44] As part of the sale, Woolworths fuel discount offers and collection of Woolworths Rewards points would be continued by EG Group for 15 years.[45]

In total, all EG Australia sites, including Caltex Woolworths Metro and Caltex Woolworths sites, alongside 200 selected Star Mart, Star Shop and The Foodary branded Caltex sites accepts the four cents per litre discount petrol offer from Woolworths.[46]

Operations

Management

Julian Segal was the CEO of Caltex Australia for almost 11 years from July 2009 until 2 March 2020.[47][48] As of 2 March 2020, the interim CEO is the CFO Matthew Halliday.[49]

Oil Refineries

After the closure of Kurnell Refinery for conversion in 2014, the only Ampol oil refinery remaining in Australia is the Lytton oil refinery.

Ampol Singapore

In 2012, Caltex Australia wanted to establish an overseas trading arm to enable the importation of gasoline into Australia. This was largely due to the decision to close Kurnell Refinery.[50] As Chevron Corporation already operate the Caltex brand overseas in areas like Singapore, Caltex Australia opted to name their Singaporean business after their former Australian business, Ampol.[51] It commenced trading in October 2013, and the Kurnell Refinery closed in 2014.[2]

SEAOIL Phillipines

Main article: Seaoil Philippines

In December 2017, Caltex Australia entered a strategic partnership with SEAOIL, the leading independent fuel company in the Philippines. As part of the partnership, Caltex Australia would supply oil to SEAOIL via Ampol Singapore, while Caltex Australia would take up a 20% equity interest in SEAOIL.[52] The acquisition of the 20% equity interest was completed in March 2018.[53]

Gull New Zealand

In July 2017, Caltex Australia acquired Gull New Zealand for NZ$340 million (approximately A$325 million).[54][55] In the year 2018, Gull contributed to Caltex Australia's 39% increase in international fuel sales volumes to 3.5 billion litres.[56]

Sponsorship

Russell Ingall and Stone Brothers Racing Ford Falcon BA

Rugby league

During the 1980s and early 1990s, Caltex was the naming rights sponsor of Endeavour Field, the home ground of the Cronulla-Sutherland Sharks, which is on the road to its Kurnell Refinery.

Motor racing

From 1987 until 1993, Caltex was the title sponsor of Colin Bond Racing. From 2000 until 2007, it was title sponsor of Stone Brothers Racing with Russell Ingall winning the 2005 championship. In 2016 and 2017, Caltex was title sponsor of the Triple Eight Race Engineering car of Craig Lowndes, having previously been an associate sponsor of the team.

Football

In March 2016, Caltex began a four-year contract as sponsor of the Australia national football team.[57]

References

  1. ^ a b "Our Company". Caltex Australia. Retrieved 6 March 2020.
  2. ^ a b c d e f "History". Ampol Singapore. Retrieved 6 March 2020.
  3. ^ "2009 Annual Review". Caltex Australia. Retrieved 6 March 2020.
  4. ^ Caltex absorbs Golden Fleece Canberra Times 16 March 1981 page 6
  5. ^ Dyster, Barrie. "Walkley, Sir William Gaston (1896–1976)". Australian Dictionary of Biography. Australian National University. Retrieved 6 March 2017.
  6. ^ Smith, Bruce A. "Australian Motorists Petrol Company Limited - Guide to Australian Business Records Corporate entry". www.gabr.net.au. Retrieved 16 June 2020.
  7. ^ Simpson, Colin; Simpson, Colin; Ampol Petroleum Limited (1961), Show me a mountain : the rise of an Australian company, Ampol, Angus & Robertson, retrieved 20 June 2015
  8. ^ "The Sydney Morning Herald from Sydney, New South Wales, Australia on August 24, 1979 · Page 19". Newspapers. 24 August 1979. Retrieved 16 June 2020.{{cite web}}: CS1 maint: url-status (link)
  9. ^ Ampol buys Total operations Canberra Times 24 December 1982 page 3
  10. ^ "History of PIONEER INTERNATIONAL LIMITED – FundingUniverse". Funding Universe. Retrieved 16 June 2020.{{cite web}}: CS1 maint: url-status (link)
  11. ^ "Ampol back in business after Caltex brand vote". The West Australian. 14 May 2020. Retrieved 16 June 2020.
  12. ^ $3bn oil merger full steam ahead Canberra Times 29 March 1995 page 27
  13. ^ "Shareholders back Caltex, Ampol plan". The Canberra Times. 9 May 1995.
  14. ^ Caltex Annual Review 1999 Archived 6 December 2006 at the Wayback Machine (PDF) Page 10
  15. ^ "Caltex brings back iconic Ampol brand". Caltex Australia. Archived from the original on 19 April 2020. Retrieved 15 May 2020.
  16. ^ Pioneer to reap less in Caltex sell-off Australian Financial Review 4 April 1998
  17. ^ Durie, John (27 May 2009). "Caltex pumps for control". The Australian. Archived from the original on 1 June 2009. {{cite news}}: Cite has empty unknown parameter: |1= (help)
  18. ^ "Julian Segal says Caltex to maintain strategy". The Australian. 12 February 2009. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  19. ^ "Ampol Singapore". Ampol International Holdings. Retrieved 6 March 2017.
  20. ^ Chris Zappone (26 July 2012). "Caltex axes up to 630 jobs with refinery closure". The Age. Retrieved 26 July 2012.
  21. ^ "Caltex completes $200M project to convert Kurnell refinery into fuel terminal". The Leader. 31 May 2019. Retrieved 6 March 2020.
  22. ^ "Chevron exits Caltex Australia in record $4.61b block trade". Sydney Morning Herald. 28 March 2015. Retrieved 6 March 2020.
  23. ^ "Caltex welcomes new investors to share register". Caltex Australia. Caltex. 30 March 2015. Archived from the original on 6 October 2016. Retrieved 5 October 2016.
  24. ^ "Receipt of Non-binding, Indicative, Condition Proposal" (PDF). ASX. Caltex Australia. 26 November 2019. Retrieved 4 March 2020.
  25. ^ "Update on the Proposal from Alimentation Couche-Tard" (PDF). ASX. Caltex Australia. 3 December 2019. Retrieved 4 March 2020.
  26. ^ "Update on the Improved Acquisition Proposal from ATD" (PDF). ASX. Caltex Australia. 17 February 2020. Retrieved 4 March 2020.
  27. ^ "Update on Acquisition Proposal from EG Group" (PDF). ASX. Caltex Australia. 2 March 2020. Retrieved 4 March 2020.
  28. ^ "Caltex rejects EG Group's acquisition offer". 2 March 2020. Retrieved 4 March 2020.
  29. ^ "Conclusion of Acquisition Discussions with Alimentation Couche-Tard" (PDF). ASX. 20 April 2020. Retrieved 7 May 2020.
  30. ^ "Caltex Announces Intention to Transition to Ampol Brand" (PDF). ASX. Caltex Australia. 23 December 2019.
  31. ^ Zuchetti, Adam. "Caltex brand to disappear in Australia". Mybusiness. Retrieved 23 December 2019.
  32. ^ "2020 Caltex Annual General Meeting Results" (PDF). ASX. Caltex Australia. 14 May 2020. Archived (PDF) from the original on 15 May 2020.
  33. ^ "Caltex Australia officially renamed Ampol". 7News. 14 May 2020. Retrieved 14 May 2020.
  34. ^ "Welcoming back an Australian icon". Ampol Limited. Archived from the original on 15 May 2020. Retrieved 15 May 2020.
  35. ^ Puma Energy announces sale of Puma Energy Australian fuel business to Chevron 19 December 2019
  36. ^ Saunokonoko, Mark (23 December 2019). "Back to the future: Caltex services stations will be rebranded as Ampol". 9NEWS. Retrieved 23 December 2019.
  37. ^ "Star Mart stores reborn as Fix". Dominion Post. 25 July 2009.
  38. ^ Retail Design Awards - Fix Convenience Store Archived 6 May 2013 at the Wayback Machine
  39. ^ Bradley, Grant (23 July 2009). "Quick Fix for city Star Marts". NZ Herald. ISSN 1170-0777. Retrieved 16 June 2020.{{cite news}}: CS1 maint: url-status (link)
  40. ^ "The Foodary".
  41. ^ "Caltex Woolworths Metro".
  42. ^ "Woolworths and Caltex Work Together in Petrol" (PDF) (Press release). Woolworths Limited, Caltex Australia Limited. 21 August 2003. Retrieved 17 September 2007.
  43. ^ "Expanded Caltex and Woolworths partnership begins today, helping Australian consumers save money on fuel and earn more Rewards". Caltex Australia. 7 November 2018. Retrieved 4 March 2020.
  44. ^ "EG Group taps former Caltex executive to run Woolworths Petrol". Australian Financial Review. 18 April 2019. Retrieved 4 March 2020.
  45. ^ "Woolworths Group to sell Petrol business and enter into commercial alliance with EG Group". Woolworths Group. 9 November 2018. Retrieved 4 March 2020.
  46. ^ "Woolworths Rewards Partnership".
  47. ^ AFX-News: Caltex Australia poaches Incitec Pivot CEO
  48. ^ "ASX Release - Appendix 3Z - Julian Segal" (PDF). ASX. Caltex Australia. 2 March 2020.
  49. ^ "Leadership Team". Caltex Australia. Retrieved 6 March 2020.
  50. ^ "Introduction to Ampol - Caltex Investor Day" (PDF). ASX. Caltex. 4 December 2015. Retrieved 6 March 2020.
  51. ^ "Ampol Singapore". Ampol International Holdings. Retrieved 6 March 2017.
  52. ^ "Caltex Australia enters into a strategic partnership with SEAOIL (Philippines), including the acquisition of a 20% equity interest". Caltex Australia. 21 December 2017. Retrieved 6 March 2020.
  53. ^ "Caltex finalises investment in SEAOIL (Philippines)". Caltex Australia. 2 March 2018. Retrieved 6 March 2020.
  54. ^ "The $700m family behind Gull NZ, the low-profile Raes". Stuff. 22 December 2016. Retrieved 9 March 2020.
  55. ^ "Caltex Welcomes Consent to Gull New Zealand Acquisition". Caltex Australia. 26 June 2017. Retrieved 9 March 2020.
  56. ^ "Gull acquisition beating expectations for Caltex Australia". NZ Herald. 26 February 2019. Retrieved 9 March 2020.
  57. ^ Caltex new naming-rights sponsor of Socceroos The World Game 3 March 2016
Wikimedia Commons has media related to Caltex Australia.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Ampol&oldid=963389827"