Business
Ampol may shut Australian oil refinery as losses blow out – Sydney Morning Herald
Oil refiner Ampol has warned it may shut one of Australia’s last remaining refineries for good as the collapse in fuel demand sends the plant’s losses spirallin…
“Global economic conditions triggered by COVID-19 have put significant pressure on refining, as evidenced by our performance in the first half and the significant losses announced today,” Ampol chief executive Matt Halliday said.
“This review will allow us to be proactive in determining the best course of action to protect our balance sheet, improve earnings certainty, and maximise shareholder value from our integrated supply chain.”
The nation’s four refineries in Brisbane, Melbourne, Geelong…
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