Petroleum firm Ampol says it retains the right to pursue the conversion of its Lytton oil refinery near Brisbane into an import terminal despite accepting a $108 million a year federal government subsidy to remain open as a refinery. Ampol says it wishes to keep its options open in case of failure to legislate the subsidy or continued poor returns after the Lytton refinery posted a $145 million loss for 2020. The taxpayer funded grant to the Ampol Lytton refinery and the Viva refinery in Geelong is part of the federal government’s efforts to keep Australia’s two remaining domestic refineries open amid concerns over weakening fuel security.