Caltex Australia is another company that continues to benefit from the strong Australian dollar and the volatility of market forces.

A $141.65 million for the six months to June 30 brings the oil refiner down by 61 percent in net profit for the same period last year. Caltex raked in $362.59 million in the first half of 2009.

Likewise, for the first half of 2010, Caltex posted a total revenue of $9.04 billion. The 3 percent increase on the previous corresponding period could be attributed to higher average crude oil prices and higher transport fuel sales volumes.

Moreover, maintenance at the Lytton and Kurnell refineries reduced production volumes in the same period.

Caltex management disclosed that “the higher average Australian dollar during the period, compared with the same period in 2009, resulted in a lower Australian dollar Caltex Refiner Margin.” Increasing demand for jet, diesel, and premium fuels offset a slight reduction in the demand for petrol.

Higher cost of sales resulted in an increase in total expenses, as a result, higher crude oil prices were reflected.

Caltex reported an increase of $23 million in operating expenses, including refining and supply, marketing, and corporate. Finance costs increased by $19 million.

Compared with a total dividend payout of 25 cents per share fully franked for the entire 2009, the Caltex board declared a higher interim dividend of 30 cents per share fully franked.