Business
BP to shut Australian oil refinery, leaving just three in the country – Sydney Morning Herald
BP will shut one of Australia’s last remaining oil refineries, triggering hundreds of job losses and increasing the nation’s reliance on imported fuels.
BP and the nation’s three other refiners in Brisbane, Melbourne and Geelong which process crude oil into refined fuels have been suffering enormous pressure since the onset of travel restrictions to arrest the spread of coronavirus. With planes grounded and cars kept in driveways, demand for fuel has collapsed to historic lows, forcing oil refineries to slash their ouput and sending their profit margins crashing.
The Kwinana oil refinery employs about 650 workers, comprising 400 permanent staff…
-
General22 hours agoAlice Springs Beanie Festival draws a crowd with 7,000 woolly creations on display
-
Noosa News22 hours agoParamedic who rescued farmer trapped in grain silo receives highest honour
-
Business19 hours ago3 common investing mistakes with ASX shares (and how to avoid them)
-
General20 hours agoMan dies after being struck by Transperth bus outside Perth Arena