Industry News

Viva Energy is set to embark on a $250 million-plus revamp of its network of convenience stories and fuel stations to adapt them to the transitioning demands of its customers after wrapping up its $1.215 billion takeover of South Australia’s OTR Group. Chief executive Scott Wyatt said the acquisition, announced last April, not only immediately provided Viva with 226 additional convenience stores but also offered the opportunity to take an extremely successful proven offer in South Australia and roll it out nationwide. Viva, partly owned by commodities trader Vitol, owns the Shell-branded network of petrol stations. Over the next five years, Viva will overhaul its existing network of Coles Express stores, refreshing and rebranding them under the “On the Run” name and with a stronger focus on food to suit the changing demands of customers and the gradual shift towards electric vehicles. “It’s really about transforming our business from being a fuel…

The oil giant said on Thursday that it will divest 500 company-owned retail sites this year and next globally as part of its broader strategy. Dive Brief: Dive Insight: Shell did not share whether these divestitures will occur in pieces or large amounts at once. Regardless of how these locations are sold, offloading 1,000 of its c-stores over the next two years could mark a significant shift in the global c-store landscape. In the U.S., Shell — whose domestic headquarters are in Houston — has had something of a comeback in the c-store space over the past few years. Today, it operates about 250 retail sites, in addition to marketing fuel at about 14,000 branded gas stations across 49 states. After exiting the company-operated c-store business in 2007, Shell burst back onto the scene when it acquired 248 locations from Texas-based retailer Landmark Industries in 2021. At this time, Shell said it…

Visa and Mastercard have reached a nearly $30 billion settlement to limit credit and debit card fees for merchants by reducing their U.S. credit card interchange rates or swipe fees for at least a five-year period. The settlement, which also features a set of adjustments to Visa and Mastercard’s network rules, giving merchants more choice in how they accept digital payments, according to the credit card companies. The agreement includes: “This agreement brings closure to a longstanding dispute by delivering substantial certainty and value to business owners, including flexibility in how they manage acceptance of card programs,” said Rob Beard, chief legal officer, general counsel and head of global policy at Mastercard, San Francisco. “By negotiating directly with merchants, we have reached a settlement with meaningful concessions that address true pain points small businesses have identified,” said Kim Lawrence, president for North America at Visa, Purchase, New York. The settlement agreement with merchants resolves…

Australian food company Patties Food Group will help fuel the nation’s Olympic heroes in Paris, and the supporters who cheer them on at home, as an official partner of the Australian Olympic Committee (AOC). The three-year partnership, announced today, sees Patties Food Group’s famous Four’N Twenty become the official pie, and performance brand Fitness Outcomes become the official ready meal of the Australian Olympic Team. Four’N Twenty pies and Fitness Outcomes meals will offer Australia’s Olympians a taste of home in the athletes’ village in Paris. Patties Food Group Chief Executive Paul Hitchcock said the company was honoured to be associated with the AOC and the Olympic dreams of the nation’s best athletes. “Our Olympians are working hard to take on the world in Paris and Patties Food Group is proud to be working beside them to enhance the Olympic experience for all who follow and are part of the…

Energy and Climate Change Minister Chris Bowen has walked away from Labor’s target to have 89 per cent of new car sales electric by 2030, casting doubt on the government’s green agenda. After The Australian revealed Mr Bowen’s electric vehicle strategy was on track to fail with government departmental officials predicting fewer than a third of new car sales would be battery operated by 2030, the Labor frontbencher claimed there was no target. “We don’t have a particular EV target,” Mr Bowen said on Wednesday morning. Come up to me in the street and say, I’d like my next car to be an EV but I’m not really seeing the range of choices that are affordable. “And they’re right because there are many more affordable EVs that are available in other countries that aren’t available here because we don’t have efficiency standards.” from the federal transport department were that electric cars will make up…