Ampol

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).

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]

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]

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]

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]

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]

Signage of an EG/Caltex service station in Marayong

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]

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]

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

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]

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]

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]

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.

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.

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