What IOR does

IOR Pty Ltd is an Australian vertically integrated commercial fuel supplier headquartered in Cannon Hill, Queensland, founded in 1984 in Eromanga to refine locally produced crude oil. Over four decades the company has built and now operates the full fuel value chain: the Eromanga Refinery (producing specialty fuels including Enersol® petroleum solvents and Eromanga UMF low-particulate diesel for underground mining); two import and storage terminals at Lytton (Queensland) and Port Bonython (South Australia); a national transport fleet spanning rigid tankers through B-doubles and road trains; a 115+ site unmanned IOR Diesel Network and 30+ site IOR Aviation Network; and an Equipment & Infrastructure business selling and renting self-bunded fuel storage tanks and modular fuel farms. Supporting the physical infrastructure are three digital platforms: the proprietary HyDip® Fuel Management System providing real-time tank telemetry and transaction visibility, the Fuelcharge consumer mobile app enabling account-free pay-at-pump access, and the IOR Customer Portal for consolidated multi-site account management.

The company serves enterprise customers across transport and logistics, mining and resources, agriculture and harvest, livestock, construction and civil, government and defence, oil and gas, and commercial and general aviation. Named enterprise customers include K.S. Easter Transport, Incitec Pivot, Alliance Airlines, MPC Kinetic, and Sydney Helicopters Group. Revenue is generated through multiple streams: transaction-fee fuel sales (diesel, Jet A-1, Avgas, AvPULP™), bulk delivery services, hardware sales and rental of fuel storage tanks, managed vendor-managed fuel supply services (often bundled with HyDip®), wholesale Terminal Gate Sales at Lytton and Port Bonython, and the HyBlue™ AdBlue® and lubricants product lines. Pricing is primarily quote-based for commercial accounts and volume-tiered for business accounts, with daily published Terminal Gate Pricing for wholesale customers and a freemium pay-as-you-go model for Fuelcharge app users. Certification breadth — JIG (aviation), ISO 9001 (Port Bonython operations), VDA/ISO 22241 (AdBlue®), AS1692/AS1940 (tanks), NHVAS (fleet), and ADG compliance — supports operations across regulated fuel segments.

In April 2025 Stonepeak, an infrastructure investment firm, agreed to acquire a 75% interest in IOR for approximately USD 750 million (implying roughly USD 1 billion enterprise value), with the deal expected to close in the second half of 2025. The company has since secured the South Australian government's A$40 million strategic diesel reserve at Port Bonython, a A$25 million Queensland government-backed biodiesel production project at Eromanga, and integration into Export Finance Australia's national fuel security program. IOR continues to operate as a private company under CEO Drew Morland, with Stonepeak as majority owner.

Name

IOR

Legal name

IOR Pty Ltd

Website

https://ior.com.au

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

IOR is an Australian vertically integrated fuel supplier operating a national 115+ site diesel network, 30+ aviation locations, two import terminals, and the Eromanga Refinery, serving transport, mining, agriculture, government, and aviation customers across Australia.

Ownership category

akta.pro rank

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Fuel Sales (Diesel, Jet Fuel, Avgas): Core revenue from sale of commercial diesel, aviation fuels (Jet A-1, Avgas, AvPULP™), and related petroleum products through network sites, bulk delivery, and terminal supply.
2. Bulk Fuel Delivery Services: Delivery of bulk diesel and aviation fuel to depots, mine sites, farms, airports, and remote operations using company-owned fleet of rigid tankers, semi-trailers, B-doubles and road trains.
3. Fuel Storage Tank Sales and Rental: Sales and rental of self-bunded fuel storage tanks (T13 to T100 capacity), combination tanks, modular fuel farms, and frac tanks for project-based fluid storage.
4. Managed Fuel Supply Services: Vendor-managed inventory and on-site fuel management services including HyDip® monitoring, automatic replenishment scheduling, and supply chain management.
5. Terminal Gate Sales: Wholesale fuel sales to approved distributors and large commercial operators through Lytton and Port Bonython terminals at published Terminal Gate Pricing.
6. HyBlue™ AdBlue® Supply: Sales of VDA-certified AdBlue® diesel exhaust fluid in multiple formats (bulk, IBC, drum, 10L packs) and at select diesel network locations.
7. Lubricants and Specialty Products: Sales of industrial lubricants including engine oils, hydraulic fluids, gear oils, greases, coolants, and specialty products for commercial equipment.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

IOR is Australia's most vertically integrated commercial fuel supplier, selling and distributing diesel, aviation fuels (Jet A-1, Avgas, AvPULP), AdBlue, lubricants, condensates and specialty petroleum products through a national network of 115+ diesel truck stops and 32+ aviation locations, supported by owned import terminals (Lytton, Port Bonython), the Eromanga Refinery, a national bulk delivery fleet, on-site storage solutions and proprietary digital fuel management platforms (HyDip, Fuelcharge, Customer Portal). The company supplies mining, transport, agriculture, aviation, government, construction and oil & gas customers across Australia, with bulk delivery, on-site refuelling, managed fuel supply, into-plane refuelling and wholesale terminal gate sales.

Product overview

IOR is an integrated commercial fuel and logistics provider offering a comprehensive suite of fuel solutions across Australia. The portfolio consists of four core pillars: Ground Fuels (IOR Diesel Network of 115+ unmanned 24/7 truck stops, On-Site Refuelling, Bulk Diesel Delivery, HyBlue™ AdBlue® and Oils & Lubricants), Aviation (IOR Aviation Network with 32+ airport locations, Airport Fuelling Services, Aviation Bulk Refuelling, Aviation Oils & Lubricants, and AvPULP™ unleaded aviation fuel), Supply & Trading (Lytton & Port Bonython Terminals, Eromanga Refinery, and Condensates), and Equipment & Infrastructure (Fuel Storage Tanks and Fluid Storage Tanks). Supporting these are three digital platforms: HyDip®™ Fuel Management System for real-time tank monitoring and transaction visibility, Fuelcharge App for account-free mobile fuel access, and the IOR Customer Portal for consolidated account management. The company operates across the entire fuel value chain from import terminals and domestic refining through to national delivery fleet and retail network, serving industries including transport, agriculture, mining, construction, aviation, government, and oil & gas.

Differentiator

Problem solved

Functional benefit

Brands

• HyBlue™: Australian-made AdBlue® (Diesel Exhaust Fluid) product, VDA-certified to ISO 22241 specifications.
• HyDip®
• Fuelcharge
• AvPULP™

Products and services

• IOR Diesel Network National network of 115+ unmanned 24/7 diesel truck stops on Australia's major transport corridors, featuring high-flow bowsers, B-double and road train access, and HyDip integration for fleet-level transaction visibility. Accessed via IOR account RFID tags or the Fuelcharge app. For heavy commercial transport fleets, mining operators, agricultural and government customers.
• Bulk Diesel Delivery National bulk diesel delivery service using IOR's owned fleet (rigid tankers up to 20,000L, semi-trailers up to 34,000L, B-doubles and road trains 60,000L+), NHVAS accredited and ADG-compliant, delivering to depots, mine sites, farms, airports and remote operations with HyDip-enabled real-time delivery tracking.
• On-Site Refuelling Installation of bulk fuel tanks at customer depots, yards or sites with built-in HyDip fuel management, providing on-site refuelling with real-time tank level monitoring and transaction visibility for enterprise customers.
• HyBlue AdBlue Australian-made, VDA-certified AdBlue (diesel exhaust fluid) meeting ISO 22241 specifications, batch-tested in NATA-accredited labs. Available in bulk, IBC, drum and 10L formats and at select IOR Diesel Stops nationwide, for transport, mining, civil construction and agricultural fleets with modern diesel engines.
• Oils & Lubricants (Ground Fuels) Commercial-grade lubricants including engine oils, hydraulic fluids, gear oils, greases, coolants and specialty products for transport, mining, civil construction and agriculture, delivered in 20L pails, 210L drums and 1,000L IBCs.
• IOR Aviation Network National aviation fuel network across 32+ airport locations providing Jet A-1, Avgas and AvPULP access through self-serve and into-plane refuelling options for commercial airlines, charter operators, aeromedical services and general aviation.
• Airport Fuelling Services (Into-Plane Refuelling) Staffed JIG-compliant into-plane refuelling services for commercial airlines, charter operators, aeromedical services and general aviation, with certified fuel handling, testing, dispensing and record-keeping procedures for safe and efficient aircraft turnarounds.
• Aviation Bulk Refuelling Bulk Jet A-1, Avgas and AvPULP delivery to airports, private airstrips, pastoral stations, agricultural operations, mining sites and remote aviation facilities across Australia, with batch certificates and HyDip tank monitoring.
• AvPULP Unleaded Aviation Fuel IOR Aviation's branded unleaded aviation fuel for piston aircraft approved to use MOGAS. Premium 98 RON, ethanol-free formulation designed specifically for aviation use, offered as an alternative to leaded Avgas with reduced lead emissions and potential cost savings.
• Aviation Oils & Lubricants Supply of AeroShell and Mobil Jet aviation oils and lubricants for aircraft operators, maintenance teams, airports and aviation businesses, including piston engine oils, turbine oils, greases and specialty fluids.
• Lytton Terminal Major diesel-only import and storage terminal on Australia's east coast within the Port of Brisbane precinct, commissioned in 2023 as one of the largest on the east coast. Features high-speed loading gantry with simultaneous trailer filling up to 2,400 litres per minute, with Terminal Gate Pricing published daily for wholesale collection by approved distributors.
• Port Bonython Terminal Largest diesel storage terminal of its kind in South Australia, located 25km north of Whyalla on the Spencer Gulf with deep-water port access, road train capability and two-bay loading gantry with three arms per bay. Operated in partnership with Coogee Chemicals under ISO9001 certification. Host of the South Australian government's strategic diesel reserve.
• Eromanga Refinery IOR's original refinery in regional Queensland, operational since 1984, producing Enersol petroleum solvents for chemical manufacturers and Eromanga UMF (low-particulate diesel) for underground mining applications. Also processes Shell crude from the Taroom Trough into diesel for Australia's farming industry.
• Condensates Supply & Trading Specialised condensate supply and trading services for industrial and manufacturing applications.
• Fuel Storage Tanks (Sales & Rental) High-capacity, self-bunded fuel storage infrastructure ranging from 13,000L to 100,000L, engineered for remote project sites in Australia's harsh environments and compliant with AS1692 and AS1940 standards. Available for sale or rental.
• Fluid Storage Tanks Storage tanks for fluid applications including frac tanks for temporary civil project fluid storage and modular fuel farms for larger projects.
• HyDip Fuel Management System IOR's proprietary real-time tank monitoring and transaction visibility platform enabling enterprise customers to monitor tank levels, track fuel usage by driver or vehicle, receive anomaly alerts for theft prevention, automate replenishment scheduling and run compliance reporting and vendor-managed inventory.
• Fuelcharge Mobile App IOR's mobile application providing account-free cashless fuel access at participating IOR Diesel Network and aviation locations. Users download the app, add a payment method, pre-authorise the pump and refuel with digital receipts, with no account or ABN required. Available on iOS and Android.
• IOR Customer Portal Web-based portal for IOR account customers providing transaction visibility, delivery and invoice information, and multi-site account management across all IOR locations, sites and vehicles.

Quantifiable outcome

• 800% increase in AdBlue® distribution between December 2021 and January 2022 for Incitec Pivot Limited
• +2 more outcomes

Named customers5 records

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• Government of South AustraliacoreOthersSouth Australian government announced $40 million investment to create strategic diesel reserve of 10-20 million litres at IOR's Port Bonython facility. Premier Peter Malinauskas signed agreement with IOR CEO Drew Morland. Primarily intended to provide certainty to the state's agricultural sector amid uncertainty from Iran war.
• Coogee ChemicalscoreStrategic or Co-development PartnerPort Bonython Terminal operated in partnership with Coogee Chemicals, ISO9001 certified. Partnership provides operational excellence and quality management for terminal operations at the Spencer Gulf facility.

Scale indicators8 records

Expansion highlights6 records

Broad incumbents

• Shell Australia: Major oil major with Australian retail, lubricants and aviation fuel operations and upstream production (including Taroom Trough crude supplied to IOR's Eromanga refinery); broader portfolio but overlaps in commercial fuel and lubricants.
• ExxonMobil Australia: Major oil major with Australian refining (Altona) and fuel/lubricants operations; broader global portfolio but competes with IOR in commercial fuels and lubricants segments.
• Air bp: Global aviation fuel supplier operating into-plane refuelling at major and regional airports; directly comparable in IOR's aviation fuel business line where JIG-compliant into-plane service is a core offering.
• BP Australia: Major international oil major with Australian retail, refining and aviation fuel (via Air bp) operations; broader portfolio but directly overlaps with IOR across diesel, jet fuel and aviation segments.

Direct peers

• Viva Energy: ASX-listed Australian fuel company operating the Geelong refinery and Shell-branded retail and aviation fuel network; comparable vertically integrated refining-wholesale-retail model with similar aviation fuel exposure.
• Ampol: Australia's largest fuel retailer and refiner (formerly Caltex Australia); operates the Lytton refinery in Brisbane and an extensive national retail and wholesale network. Most direct vertically integrated comparable to IOR's terminal-to-retail model.
• Neumann Petroleum: Australian fuel distributor and lubricant supplier focused on bulk fuel delivery, lubricants and on-site refuelling for commercial and industrial customers; closely comparable B2B fuel distribution model.
• Lowes Petroleum: Australian bulk fuel distributor serving commercial, industrial and agricultural customers across NSW and eastern Australia; comparable scale and B2B bulk delivery model to IOR's non-retail business.
• United Petroleum: Australian independent fuel retailer and wholesaler with network of company-controlled sites and bulk supply operations; directly competes with IOR Diesel Network for commercial and retail diesel customers.
• Puma Energy: Global independent fuel retailer and bulk supplier with Australian operations; competes with IOR in wholesale fuel, terminal supply and aviation segments across regional markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/iorpetroleum
• Facebookfacebook.com/ior.petroleum
• LinkedInlinkedin.com/company/ior-fuelling-australia

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IOR