Business
Oil refineries at breaking point as fuel slump drags on – Sydney Morning Herald
Australia’s four oil refineries are approaching breaking point with fuel demand remaining below pre-pandemic levels for the foreseeable future.
Viva Energy and Ampol, which have slowed output from their refineries for extended periods in a bid to weather the enormous strain on their profit margins, are now facing the reality of an uncertain and much slower-than-expected recovery in petrol and jet fuel consumption. Parts of the country remain in lockdown, borders are shut and planes are grounded. Mr Halliday said he does not expect the challenges to abate any time soon.
Analysts and industry insiders say the pandemic-driven oversupply a…
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