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Viva Energy Group Working With Australian Government on Fuel Security Initiatives

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Viva Energy Group (ASX:VEA) continued to work with the Australian government on a range of fuel security initiatives that could improve the company's earnings profile, according to a Tuesday filing with the Australian bourse.

The measures include Australian fuel reserves, an increase to minimum stockholding obligations, and a refinery retention program that aims to secure continued refining operations through the next decade, per the filing.

Together, the programs could support the development of a "substantial infrastructure position" at the company's Geelong energy hub and help it deliver "more stable earnings" underpinned by the government's energy goals, Viva Energy said.

Its shares fell 2% in recent Tuesday trade.

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