Ampol

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Ampol Limited
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 (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 its headquarters in Sydney. 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 use of the Caltex brand in Australia. From May 2020, the company officially rebranded as Ampol along with a new logo that is being 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)[]

An Ampol service station in Alice Springs the 1940s

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]

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 came on stream.[2] Pioneer International purchased a 20% stake in Ampol in 1979.[8] From 1980 until 1984, Ampol owned a 66% shareholding in Brisbane television station TVQ.[9][10]

In 1982, Ampol purchased the marketing and refining assets of Total Australia and changed its name to Ampol Limited.[11] In 1988, Ampol was fully taken over by Pioneer International and delisted from the ASX the following year.[2][12] The following year, Pioneer purchased Solo Oil, the largest independent retailer and distributor in Australia at that time.[13]

Recent history[]

Merger between Caltex and Ampol[]

A Caltex store in Wagga Wagga in 2008

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.[14][15] 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.[16]

In 1997, Australian Petroleum Pty Ltd was renamed Caltex Petroleum Australia Ltd.[17] The following year, in 1998, Caltex acquired full ownership of the company when Pioneer sold its shareholding of its 90 million shares.[2][18] From then until 2015, Caltex Australia was owned 50% by Chevron Corporation and 50% by ASX shareholders.

A former Caltex service station in Rockhampton, Queensland

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).[19] 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.[20]

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.[21]

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.[22] The conversion was completed in May 2019.[23]

Chevron sale[]

In March 2015, Chevron sold its 50% stake in Caltex Australia (the deal valuing the company at $9.24 billion).[24][25] However, Caltex Australia was allowed to continue to use the Caltex brand under a trademark licence.

In November 2019, Alimentation Couche-Tard (ATD) proposed an offer to acquire Caltex Australia.[26] Initially declined by the Caltex Australia board,[27] ATD proposed an improved offer in February 2020, and the board agreed to further engage with ATD.[28] Separately in the same month, the EG Group also proposed an offer to acquire Caltex Australia, which was declined by the Caltex Australia board.[29][30] 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.[31]

Rename to Ampol[]

The first rebranded Ampol service station in Granville, New South Wales
A Caltex service station being rebranded to Ampol in Rosebery, New South Wales

In December 2019, Caltex Australia announced that Chevron had given notice to terminate the trademark licence agreement for the use of the Caltex brand in Australia.[32][33] Caltex Australia subsequently 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.[34][35] Caltex Australia cited continued high recognition and regard for the Ampol brand, and the move is expected to save the company $20 million per year in licensing fees to Chevron.[36]

Caltex Australia began rebranding its sites in Sydney and Melbourne in August 2020, followed by Brisbane and Adelaide in October 2020, Perth in November 2020 and nationally in 2021.[37] The Granville and Concord sites along Parramatta Road in Sydney were the first two sites to be rebranded to Ampol on 21 August 2020.[38]

The licence agreement termination followed Chevron announcing it would re-enter the Australian market, having purchased Puma Energy's Australian operations.[39]

Store formats[]

A diesel only stop at Eastern Creek, New South Wales

Ampol/Caltex-branded sites can have any of the following types of convenience store formats. As part of the Ampol rebranding, Star Mart and Star Shop outlets are being converted to Woolworths Metro or Foodary:

  • 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.
  • Star Shop: A smaller store with just convenience items and packaged foods and limited operating hours.
  • Foodary: Large Sites containing a bakery, coffee, hot food, convenience items and an ATM. Selected larger sites also offer barista made coffee and fresh healthy food. Other retailers such as Boost Juice and Guzman y Gomez are co-located on selected Foodary sites.[40][41]
  • 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. Some sites also contain a co-located Boost Juice outlet.[42] Ampol Woolworths Metro is owned and operated by Ampol, and is not part of Euro Garages Australia.[43]
  • 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, New South Wales
Main article: Euro Garages Australia

In 2003, Caltex Australia entered into a joint venture agreement with large supermarket retailer Woolworths Limited.[44] 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.[45]

In April 2019, Woolworths sold all its 540 fuel stores to EG Group.[46] As part of the sale, Woolworths fuel discount offers and collection of Woolworths Rewards points would be continued by EG Group for 15 years.[47]

In total, all EG Australia sites including Caltex Woolworths sites, alongside Ampol Woolworths Metro and 200 participating Star Mart, Star Shop and Foodary branded Caltex/Ampol sites accepts the four cents per litre discount petrol offer from Woolworths.[48]

Operations[]

Management[]

Julian Segal was the CEO of Caltex Australia for almost 11 years from July 2009 until 2 March 2020.[49][50] CFO Matthew Halliday was appointed as interim CEO until he was appointed permanent CEO of Ampol on 29 June 2020.[51][52]

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 petrol into Australia. This was largely due to the decision to close Kurnell Refinery.[53] 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.[54] It commenced trading in October 2013, and the Kurnell Refinery closed in 2014.[2]

SEAOIL Philippines[]

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.[55] The acquisition of the 20% equity interest was completed in March 2018.[56]

Gull New Zealand[]

In July 2017, Caltex Australia acquired Gull New Zealand for NZ$340 million (approximately A$325 million).[57][58] In the year 2018, Gull contributed to Caltex Australia's 39% increase in international fuel sales volumes to 3.5 billion litres.[59]

Sponsorship[]

The Ford Falcon BA of Russell Ingall and Stone Brothers Racing (2006)
The Holden Commodore VF of Craig Lowndes and Triple Eight Race Engineering (2016)

Professional tennis[]

In the late 1950s, Ampol sponsored professional tennis events. The Ampol Tournament of Champions was held at White City Stadium in Sydney in 1957, at Kooyong Stadium in Melbourne in 1958, and at White City Stadium in Sydney in 1959. In 1959/1960, the Ampol Open Trophy and bonus prize was presented to the winner of a 15-tournament professional world series of tennis tournaments, presented at Kooyong Stadium on 2 January 1960.

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. In 2020, Ampol was announced as the sponsor of the State of Origin series until 2023.[60]

Motor racing[]

In 1957 Ampol sponsored David Mackay (Australian Land Speed Record, 143.19 m.p.h.) and Mary Seed (Class E World Land Speed Record and Australian Women's Land Speed Record, 112.95 m.p.h.) at the Carrathool Speed Trials.[61] 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.[62]

Under its new brand, in August 2020, Ampol continued its sponsorship relationship with the Red Bull Holden Racing for the Triple Eight Race Engineering, with the team updating its car livery and race suits to Ampol and its fuel brands.[63] In 2021, Ampol replaced Holden as the team's Major Sponsor for Triple Eight alongside Red Bull, and the team was renamed Red Bull Ampol Racing.[64]

Soccer[]

In March 2016, Caltex began a four-year contract as sponsor of the Australia national soccer team.[65]

See also[]

References[]

  1. ^ Jump up to: a b "Our Company". Caltex Australia. Retrieved 6 March 2020.
  2. ^ Jump up to: 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. ^ "Pioneer and Brambles vie for big Ampol stake". Newspapers.com. Sydney Morning Herald. 24 August 1979. p. 19.
  9. ^ ABT told of plans to warehouse TVQ shares Canberra Times 9 August 1980 page 21
  10. ^ Qld TV channel pursuing media interest Canberra Times 6 May 1984 page 3
  11. ^ Ampol buys Total operations Canberra Times 24 December 1982 page 3
  12. ^ "History of Pioneer International Limited". Funding Universe. Retrieved 16 June 2020.
  13. ^ "Ampol back in business after Caltex brand vote". The West Australian. 14 May 2020. Retrieved 16 June 2020.
  14. ^ $3bn oil merger full steam ahead Canberra Times 29 March 1995 page 27
  15. ^ "Shareholders back Caltex, Ampol plan". The Canberra Times. 9 May 1995.
  16. ^ Caltex Annual Review 1999 Archived 6 December 2006 at the Wayback Machine (PDF) Page 10
  17. ^ "Caltex brings back iconic Ampol brand". Caltex Australia. Archived from the original on 14 July 2020. Retrieved 15 May 2020.
  18. ^ Pioneer to reap less in Caltex sell-off Australian Financial Review 4 April 1998
  19. ^ Durie, John (27 May 2009). "Caltex pumps for control". The Australian. Archived from the original on 1 June 2009.
  20. ^ "Julian Segal says Caltex to maintain strategy". The Australian. 12 February 2009.
  21. ^ "Ampol Singapore". Ampol International Holdings. Retrieved 6 March 2017.
  22. ^ Chris Zappone (26 July 2012). "Caltex axes up to 630 jobs with refinery closure". The Age. Retrieved 26 July 2012.
  23. ^ "Caltex completes $200M project to convert Kurnell refinery into fuel terminal". The Leader. 31 May 2019. Retrieved 6 March 2020.
  24. ^ "Chevron exits Caltex Australia in record $4.61b block trade". Sydney Morning Herald. 28 March 2015. Retrieved 6 March 2020.
  25. ^ "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.
  26. ^ "Receipt of Non-binding, Indicative, Condition Proposal" (PDF). ASX. Caltex Australia. 26 November 2019. Retrieved 4 March 2020.
  27. ^ "Update on the Proposal from Alimentation Couche-Tard" (PDF). ASX. Caltex Australia. 3 December 2019. Retrieved 4 March 2020.
  28. ^ "Update on the Improved Acquisition Proposal from ATD" (PDF). ASX. Caltex Australia. 17 February 2020. Retrieved 4 March 2020.
  29. ^ "Update on Acquisition Proposal from EG Group" (PDF). ASX. Caltex Australia. 2 March 2020. Retrieved 4 March 2020.
  30. ^ "Caltex rejects EG Group's acquisition offer". 2 March 2020. Retrieved 4 March 2020.
  31. ^ "Conclusion of Acquisition Discussions with Alimentation Couche-Tard" (PDF). ASX. 20 April 2020. Retrieved 7 May 2020.
  32. ^ "Caltex Announces Intention to Transition to Ampol Brand" (PDF). ASX. Caltex Australia. 23 December 2019.
  33. ^ Zuchetti, Adam. "Caltex brand to disappear in Australia". Mybusiness. Retrieved 23 December 2019.
  34. ^ "2020 Caltex Annual General Meeting Results" (PDF). ASX. Caltex Australia. 14 May 2020. Archived (PDF) from the original on 15 May 2020.
  35. ^ "Caltex Australia officially renamed Ampol". 7News. 14 May 2020. Retrieved 14 May 2020.
  36. ^ Saunokonoko, Mark (23 December 2019). "Back to the future: Caltex services stations will be rebranded as Ampol". 9NEWS. Retrieved 23 December 2019.
  37. ^ "Welcoming back an Australian icon". Ampol Limited. Archived from the original on 15 May 2020. Retrieved 15 May 2020.
  38. ^ "After 25 years, Ampol is back". Australian Financial Review. 21 August 2020. Retrieved 25 August 2020.
  39. ^ Puma Energy announces sale of Puma Energy Australian fuel business to Chevron 19 December 2019
  40. ^ "Foodary". Retrieved 15 February 2021.
  41. ^ "Foodary". Retrieved 15 February 2021.
  42. ^ "Caltex Woolworths Metro".
  43. ^ "Caltex and Woolworths Welcome Customers to The New Age of Convenience". Caltex Australia.
  44. ^ "Woolworths and Caltex Work Together in Petrol" (PDF) (Press release). Woolworths Limited, Caltex Australia Limited. 21 August 2003. Retrieved 17 September 2007.
  45. ^ "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.
  46. ^ "EG Group taps former Caltex executive to run Woolworths Petrol". Australian Financial Review. 18 April 2019. Retrieved 4 March 2020.
  47. ^ "Woolworths Group to sell Petrol business and enter into commercial alliance with EG Group". Woolworths Group. 9 November 2018. Retrieved 4 March 2020.
  48. ^ "Woolworths Rewards Partnership".
  49. ^ AFX-News: Caltex Australia poaches Incitec Pivot CEO
  50. ^ "ASX Release - Appendix 3Z - Julian Segal" (PDF). ASX. Caltex Australia. 2 March 2020.
  51. ^ "Leadership Team". Caltex Australia. Retrieved 6 March 2020.
  52. ^ "Ampol appoints interim chief to lead the business through next chapter". Inside FMCG. Retrieved 1 July 2020.
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  54. ^ "Ampol Singapore". Ampol International Holdings. Retrieved 6 March 2017.
  55. ^ "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.
  56. ^ "Caltex finalises investment in SEAOIL (Philippines)". Caltex Australia. 2 March 2018. Retrieved 6 March 2020.
  57. ^ "The $700m family behind Gull NZ, the low-profile Raes". Stuff. 22 December 2016. Retrieved 9 March 2020.
  58. ^ "Caltex Welcomes Consent to Gull New Zealand Acquisition". Caltex Australia. 26 June 2017. Retrieved 9 March 2020.
  59. ^ "Gull acquisition beating expectations for Caltex Australia". NZ Herald. 26 February 2019. Retrieved 9 March 2020.
  60. ^ Ampol secures State of Origin naming rights National Rugby League 27 October 2020
  61. ^ Carrathool Speed Trials 1957
  62. ^ Eighties inspired Caltex retro livery for Sandown 500 Auto Action 6 September 2017
  63. ^ "Ampol Returns to Australian Motorsport". Red Bull Holden Racing. 13 August 2020. Retrieved 25 August 2020.
  64. ^ "New name for Triple Eight in 2021". Supercars Championship. 6 November 2020. Retrieved 14 February 2021.
  65. ^ Caltex new naming-rights sponsor of Socceroos The World Game 3 March 2016

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