Ampol
| File:Ampol logo.svg Ampol logo since 2020 rebranding | |
| Company type | Public |
|---|---|
| Industry | Petroleum |
| Founded | 1936 in Sydney, New South Wales, Australia |
| Founder | Sir William Gaston Walkley |
| Headquarters | Sydney , Australia |
Area served | Australia, New Zealand |
| Products | Transport energy, fuel retailing |
| Website | ampol |
Ampol Limited is a petroleum company based in Sydney, New South Wales, Australia. It stands as the country's foremost distributor and retailer of transport energy, operating more than 1,800 service stations under the Ampol brand across Australia. Additionally, Ampol extends its operations to New Zealand through its subsidiary, Z Energy.
Established in 1936, Ampol was initially owned by Pioneer International (currently known as Hanson Australia). Meanwhile, the Caltex brand entered the Australian market in 1941 via Caltex Australia Limited. In 1995, a merger between Ampol and Caltex resulted in the creation of Australian Petroleum, a joint venture between Pioneer and Caltex Australia. By 1998, Pioneer had divested its shareholding, leaving Caltex Australia as the sole owner. Over the following decade, the Ampol branding was progressively phased out in favour of Caltex.
From 2001 until 2015, ownership of Caltex Australia was shared between American oil giant Chevron Corporation and Australian public investors, until Chevron exited by selling its shares. In December 2019, Chevron ended the licence agreement for Caltex branding within Australia. Consequently, in May 2020, Caltex Australia adopted the Ampol name once again along with a refreshed logo, completing the nationwide rebranding process by 2022.
Early history
The current entity known as Ampol Limited originated from the 1995 consolidation of Caltex Oil (Australia) Pty Ltd—a subsidiary of Caltex Australia Limited owned by the global Caltex Petroleum Corporation—and a previous incarnation of Ampol Limited under Hanson Australia’s ownership. This union established Australia's largest downstream petroleum enterprise at that time. Notably, Caltex Petroleum Corporation itself was co-owned by Chevron Corporation and Texaco.
Caltex (1918–1995)
The Texas Company (later Texaco) began marketing petroleum products in Australia starting in 1900. Texas Company (Australasia) Limited was incorporated in New South Wales in 1918 to operate throughout both Australia and New Zealand. The Caltex joint venture was formed in June 1936 through a partnership between Standard Oil Company of California (which later became Chevron) and The Texas Company. The company officially adopted the name Caltex Limited on 2 January 1941.
Caltex Australia Limited traces its lineage back to California Asphalt Products Pty Ltd, incorporated in May 1935. It went public in December 1958, transitioned to Caltex Securities (Australia) Ltd in 1959, and eventually became Caltex Australia Limited in 1981.
In 1956, Caltex Australia launched the Kurnell Refinery and subsequently acquired Golden Fleece for AUD 75 million in March 1981. That July marked the company’s initial public offering of a 25% equity stake to Australian investors—the first multinational oil firm to do so domestically—with part of the capital raised directed toward funding the Golden Fleece acquisition.
Before merging with Ampol, operations were conducted through its subsidiary Caltex Oil (Australia) Pty Ltd. A significant legal precedent involved Caltex successfully obtaining compensation for damage caused to a pipeline beneath Botany Bay by a dredging contractor despite not holding ownership of that pipeline. The High Court ruled that foreseeable economic losses directly affecting Caltex’s business warranted compensation.
Ampol (1936–1995)
The Australian Motorists Petrol Company (Ampol) was established in 1936 in New South Wales by Sir William Gaston Walkley as a response to concerns regarding petrol pricing and taxation policies implemented by foreign oil firms. Walkley collaborated with William O'Callaghan and George Hutchison alongside the NRMA to form a petrol marketing enterprise. Ampol's inaugural oil shipment arrived at White Bay in December 1937, with Walkley assuming managing director duties by 1939.
During World War II, Walkley participated on strategic petrol distribution committees which facilitated Ampol’s acquisition of Alba Petroleum in 1945, enabling expansion into South Australia and Tasmania. The company listed on the Australian Securities Exchange in 1948 and rebranded as Ampol Petroleum Ltd in 1949 to distinguish itself from minerals explorer Ampolex.
Ampol opened its first service station at Mosman, Sydney in 1952 with assistance from Caltex and quickly grew to encompass approximately 600 outlets within six years. In 1959, diversification efforts included establishing a grease manufacturing plant at Balmain and commencing tyre and tube production at Somerton, Victoria.
The Lytton Oil Refinery near Brisbane began operations in 1965. Pioneer International acquired a minority stake of 20% in Ampol during 1979. From 1980 to 1984, Ampol held a majority interest (66%) in Brisbane television station TVQ.
In 1982, Ampol expanded its footprint by purchasing Total Australia's refining and marketing assets and subsequently adopted the name Ampol Limited. Pioneer International completed full ownership of Ampol in 1988, resulting in its removal from the ASX listings the following year.
In 1989, Ampol strengthened its market presence through acquiring Solo Oil, which was then Australia's largest independent fuel retailer and distributor.
Unification of Caltex and Ampol
Prior to 1995, Caltex and Ampol competed within Australia's petroleum market, both being smaller players relative to larger corporations. Despite their competition, they collaborated on several projects, notably the 1952 formation of West Australian Petroleum Pty Ltd (WAPET) for oil and gas exploration. Additionally, in 1964, Caltex, Ampol, and Golden Fleece joined forces to create the Australian Lubricating Oil Refinery at Kurnell, marking Australia's first facility dedicated to lube oil production.
In May 1995, the two companies combined their petroleum refining and marketing operations to establish Australian Petroleum Pty Ltd (APPL), a joint venture owned equally by Pioneer International and Caltex Australia. This newly merged entity controlled approximately 28% of the market share, with Pioneer overseeing daily operations and Caltex acting as an investor. Although there were initial intentions to phase out the Caltex brand in favor of Ampol, this transition never materialized.
By October 1997, Pioneer decided to exit the petroleum industry and sold its 50% interest in APPL to Caltex Australia by the end of that year. This acquisition granted Caltex full control and prompted the renaming of APPL to Caltex Australia Petroleum Pty Ltd (CAPPL) in January 1998. In return, Pioneer received 90 million shares in Caltex Australia, representing a one-third ownership stake. After this transaction, ownership was divided between Caltex Petroleum Corporation holding half and public investors owning about one-sixth.
In April 1998, Pioneer divested its shares through a public offering, raising public ownership to 50%, while Caltex Petroleum Corporation retained its half stake. Chevron Corporation acquired complete ownership of Caltex Petroleum Corporation in 2001, preserving the equal division between Chevron and public shareholders until 2015.
Following these developments, WAPET was succeeded by Chevron Australia Pty Ltd in February 2000. The Kurnell lubricating oil refinery—originally owned by Golden Fleece, Ampol, and Caltex—was consolidated under the Caltex name as the Caltex Lubricating Oil Refinery.
Subsequent developments (1998–2020)
In February 1999, Caltex introduced an "IGA Everyday" grocery outlet at its Bondi service station aiming to compete against Woolworths and Coles supermarkets. That same month saw the adoption of the global Caltex branding introduced in 1996 across Australia, with convenience stores rebranded as "Star Mart". The Ampol brand was gradually discontinued but persisted at some rural locations due to strong regional customer loyalty.
On 27 May 2009, Caltex announced plans to acquire 302 Mobil and Mobil Quix fuel outlets in major urban centers pending ACCC approval. However, the Australian Competition and Consumer Commission opposed this proposal citing competition concerns, leading Caltex to withdraw from the deal. Subsequently, Mobil arranged for these sites to be sold to 7-Eleven Australia.
Between late 2009 and early 2010, Caltex declared it would close its Kurnell lubricating oil refinery by 2011—the last such refinery operating in Australia—citing diminishing feedstock availability and outdated product ranges as primary reasons.
By 2012, Caltex aimed to develop an international trading division for fuel imports. Since Chevron holds rights to the Caltex brand globally (including Singapore), Caltex Australia named its Singapore-based operation after its former domestic brand, Ampol.
Up until 2014, Caltex maintained two refineries within Australia: Kurnell near Sydney and Lytton near Brisbane. The Kurnell facility ceased refining operations that year; its infrastructure was subsequently converted into a fuel importation and blending terminal completed in May 2019.
During 2016–2017, Caltex expanded by acquiring 46 Milemaker retail sites across Victoria, including 30 locations within Melbourne. Milemaker functioned as an independently franchised network with distinct retail pricing structures.
Chevron divestment
In March 2015, Chevron divested its 50% ownership in Caltex Australia, valuing the enterprise at $9.24 billion. Despite the sale, Caltex Australia maintained the rights to utilize the Caltex brand through a trademark licensing arrangement.
By November 2019, Alimentation Couche-Tard (ATD) made an acquisition bid for Caltex Australia. Although the board initially rejected this offer, an enhanced proposal submitted by ATD in February 2020 led the board to consider further discussions. Concurrently, EG Group also submitted a takeover proposal, which was declined by Caltex Australia’s board. In April 2020, ATD withdrew its bid citing economic uncertainty caused by the COVID-19 pandemic but expressed intentions to revisit the opportunity once market conditions improved.
Transition to Ampol brand
Following Chevron’s exit as a 50% stakeholder, Caltex Australia continued operating under the Caltex name via a trademark license. However, in December 2019, Chevron notified Caltex Australia of its decision to terminate this license effective 30 June 2020, as Chevron planned to re-enter the Australian market by acquiring Puma Energy’s Australian operations and rebranding them as Caltex.
Caltex Australia proposed reinstating the Ampol brand, a move that received approval from over 99% of shareholders on 14 May 2020. The company highlighted Ampol’s strong market presence and anticipated annual savings of $20 million in licensing fees previously paid to Chevron.
The termination agreement stipulated that Ampol must discontinue use of Caltex trademarks within thirty months. For the first 18 months (until 31 December 2021), Chevron retained exclusive rights to the Caltex brand; during the subsequent 12 months, both Chevron and Ampol were permitted concurrent usage. After 31 December 2022, Ampol was prohibited from using any Caltex branding and was required to complete its rebranding efforts by that date.
Ampol outlined a phased rebranding strategy commencing in August 2020 with Sydney and Melbourne locations, followed by other major cities throughout 2021. The initial sites to transition were Granville and Concord in Sydney on 21 August 2020. Additionally, Star Mart outlets were rebranded as Foodary.
Towards the end of 2020, EG Australia—operator of former Woolworths-Caltex co-branded stations—initiated legal action against Ampol alleging misleading conduct related to the branding changeover and non-disclosure of trademark negotiations with Chevron. This dispute was resolved in April 2022, enabling Ampol to remain EG’s exclusive supplier and proceed with rebranding EG stores by year-end.
In 2021, Chevron filed suit against Ampol for breaching the licensing terms by continuing use of red canopy fascias, accepting Caltex StarCard loyalty cards, and co-branding with Caltex trademarks. The Federal Court found that using red canopies and accepting StarCards did not constitute misleading or deceptive conduct; however, advertising acceptance of StarCards was ruled a breach since it exceeded educational purposes. Consequently, Ampol was ordered to cease such advertising from August 2021 onward.
Ampol post-2020 developments
Ampol collaborated with Evie Networks to deploy 350 kW electric vehicle chargers across its service station network. In 2022, Ampol introduced its EV charging brand, AmpCharge, with plans for nationwide expansion. The inaugural AmpCharge station launched in Alexandria, Sydney later that year.
On 17 May 2022, Ampol secured a listing on New Zealand’s NZX under ticker symbol ALD while maintaining its primary stock exchange listing on the ASX.
Store formats
Ampol service stations operate a variety of convenience store models.
Foodary
Foodary represents Ampol's main convenience store concept, commonly featuring a bakery, coffee offerings, hot meals, essential convenience goods, and ATM services. Larger outlets provide barista-prepared coffee alongside fresh, nutritious food options. Certain Foodary locations also accommodate third-party retailers such as Boost Juice and Guzman y Gomez. The inaugural Foodary store launched in Concord, Sydney in February 2017 as a pilot initiative aimed at improving food and convenience choices during refuelling stops. Historically, some standalone Foodary outlets operated independently from fuel stations, including one situated at Bondi Junction station in Sydney.
Co-Branded
Ampol supplies fuel to third-party operators who manage their own retail formats. One example is EG Group, which took over the former Caltex Woolworths joint venture. These sites typically display Ampol branding (formerly Caltex) on signage and canopies, while the convenience stores retain their own distinct branding identities.
EG Ampol
In 2003, Caltex Australia entered into a joint venture with supermarket chain Woolworths. Woolworths' Plus Petrol outlets adopted Caltex branding, and select Caltex locations near Woolworths supermarkets integrated Woolworths branding to create Caltex Woolworths stations. By November 2018, an additional 125 Caltex-operated sites began accepting Woolworths fuel discount offers.
In April 2019, Woolworths sold its portfolio of 540 fuel retail outlets to EG Group, which subsequently rebranded them as EG Ampol. This transaction included a 15-year contract allowing EG Group to continue offering Woolworths fuel discounts and Rewards points collection.
Following the rebranding, all 540 EG Ampol sites plus 210 participating Ampol Foodary locations honor the four cents per litre Woolworths discount. Since 2022, EG Ampol has collaborated with fast food franchises to establish outlets at selected new locations.
Ampol Woolworths MetroGo
Ampol Woolworths MetroGo was a compact Woolworths convenience store format providing a limited selection of fresh food and coffee, occasionally alongside Boost Juice kiosks. These stores were directly owned and operated by Ampol (not under EG Australia) and were previously branded as Ampol Woolworths Metro prior to March 2022. On 21 August 2023, Ampol announced the complete conversion of all 50 MetroGo stores into Ampol Foodary outlets, a process now finalized.
Caltex Star Mart
Prior to the rebranding to Ampol, some service stations featured Caltex’s Star Mart convenience stores. These were transitioned into either Woolworths MetroGo or Foodary formats during the brand changeover.
Caltex Star Shop
Caltex Star Shop represented a smaller convenience format offering packaged foods and essential items with limited operating hours. These stores were also rebranded as Ampol Foodary in 2023.
Leadership
Julian Segal held the position of CEO at Caltex Australia from July 2009 until March 2020. Following his departure, CFO Matthew Halliday was appointed interim CEO and subsequently confirmed as permanent CEO of Ampol on 29 June 2020.
Oil refineries
Since the 2014 shutdown of the Kurnell Refinery for repurposing, the Lytton Oil Refinery has remained Ampol's only operational oil refinery within Australia.
Fuel brand
The Vortex fuel brand made its international debut alongside Caltex in 1999 and was introduced to Caltex Australia in August 2000. When Techron was launched across Caltex in 2006, Caltex Australia continued marketing Vortex fuels rather than switching to Techron. During the transition to the Ampol brand, Vortex fuels were phased out and replaced by the Amplify fuel range.
Service stations
, Ampol manages a network exceeding 1,800 service stations throughout Australia, including those operated by EG Australia. From late 2023, Ampol began converting selected locations to a self-service fueling format under the U-Go brand, expanding this model across New South Wales, Queensland, Victoria, South Australia, Western Australia, and extending into New Zealand.
Ampol Singapore
To support petrol imports after Kurnell Refinery’s closure, Caltex Australia established an offshore trading division in 2012. Utilizing Chevron’s established Caltex operations in Singapore, this entity was named Ampol Singapore and commenced trading in October 2013, prior to Kurnell’s 2014 shutdown.
Seaoil
In December 2017, Caltex Australia entered a strategic alliance with Seaoil, the Philippines’ foremost independent fuel company. Under this agreement, Caltex Australia supplied oil to Seaoil through Ampol Singapore and acquired a 20% ownership stake, finalized in March 2018.
Z Energy
Ampol initiated a NZ$2 billion takeover offer for New Zealand fuel distributor Z Energy in August 2021 and completed the acquisition by May 2022. Z Energy operates more than 300 service stations under both Z Energy and Caltex brands. The Caltex brand continues under a renewed five-year licensing contract with Chevron as of March 2022.
Gull New Zealand
In July 2017, Caltex Australia purchased Gull New Zealand for NZ$340 million (approximately A$325 million). Gull played a key role in increasing Caltex Australia's international fuel sales volumes by 39%, reaching 3.5 billion litres in 2018.
Following Ampol’s bid for Z Energy, Ampol agreed in March 2022 to divest Gull to Australian investment firm Allegro Funds for $572 million to obtain Commerce Commission approval for acquiring Z Energy. This sale was contingent upon approval of the Z Energy deal, with proceeds allocated to fund that acquisition. Ampol committed to supplying Gull with petrol for five years after the sale. Allegro Funds announced intentions to grow Gull further.
Other investments
In 2016, Caltex Australia invested in Car Next Door, a peer-to-peer car sharing startup. Ampol divested its 17.2% shareholding on 24 December 2021.
Professional tennis
During the late 1950s, Ampol sponsored professional tennis tournaments including the Ampol Tournament of Champions held at prominent Australian venues from 1957 through 1959. In the 1959/60 season, Lew Hoad received the Ampol Open Trophy after winning a world series comprising fifteen tournaments featuring elite professional players.
Rugby league
Throughout the 1980s and early 1990s, Endeavour Field—home ground of the Cronulla-Sutherland Sharks located near the Kurnell Refinery—was named under Caltex’s sponsorship. In 2020, Ampol acquired the naming rights for the State of Origin series, initially through 2023, with an extension confirmed for the 2024 event.
Motor racing
Ampol supported drivers who set records at the 1957 Carrathool Speed Trials. Between 1987 and 1993, Caltex served as the primary sponsor for Colin Bond Racing. Later, from 2000 until 2007, they backed Stone Brothers Racing, during which Russell Ingall secured the championship title in 2005. Caltex also sponsored Craig Lowndes of Triple Eight Race Engineering in 2016 and 2017.
Since August 2020, under the Ampol branding, sponsorship of Red Bull Holden Racing with Triple Eight Race Engineering has persisted, featuring refreshed car designs and racing apparel. In 2021, Ampol succeeded Holden as the principal sponsor, leading to the team’s rebranding as Red Bull Ampol Racing.
Soccer
In March 2016, Caltex entered a four-year sponsorship agreement with the Australia national soccer team.
Australian rules football
In December 2023, Ampol was announced as a platinum partner of the Carlton Football Club for the upcoming 2024 AFL season, with the partnership extending through at least 2026. The Ampol emblem will appear on the upper back section of Carlton’s guernsey.