Caltex Australia has its eye on more Asian investments and supply contracts as it looks to take advantage of the skills in its Ampol fuel sourcing and trading business and prepares for an expected peaking of local demand for petrol and diesel in 10 to 15 years.
Chief financial officer Simon Hepworth said Caltex’s recent deal to buy 20 per cent of independent Philippines fuel retailer SEAOIL, which followed an acquisition in New Zealand six months ago, would help build the credibility of Singapore-based Ampol as a wholesale supplier in Asia, which could lead to more openings in the region.
“There is no reason why Ampol cannot leverage [its] capability and supply fuel into markets other than Australia,” Mr Hepworth said in an …
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