Jefferies believes that the impact of the Viva Energy refinery fire is lighter than expected.

After Viva Energy released the latest news on Monday, Jefferies believes that the impact of the fire at the Geelong refinery of the company seems to be very minor. Viva Energy stated that currently the production of diesel and aviation fuel is at 80% of capacity, while gasoline production is at 60% of capacity. The company anticipates that once the residue catalytic cracking unit is restarted, production will increase to over 90% of capacity within a few weeks. Analyst Michael Simotas stated, "This is much better than our previous assumption of diesel and aviation fuel production at 80% of capacity and gasoline production at 20% of capacity." This means around 30 million Australian dollars in missed cash opportunity costs, which is lower than the initial estimate of 135 million Australian dollars by Jefferies. Jefferies has raised its target price by 4.7% to 2.25 Australian dollars per share.