BP to close Australia refinery by 2015 April 2, 2014 - 14:26 AMT PanARMENIAN.Net - BP said it will cease production at its Bulwer Island refinery in Brisbane, Australia, by 2015. The oil giant said the growth of large refineries in Asia created "structural change" that made smaller refineries like Bulwer unprofitable, according to BBC News. The refinery, which was built in the 1960s, has the capacity to produce 102,000 barrels of fuel per day. The closure is expected to lead to the loss of 350 jobs. BP said it was considering turning the facility into an import terminal. Australia's refining sector has been hit hard of late by increasing Asian competition and a stronger Australian dollar, which has hurt profitability. Earlier this year, Royal Dutch Shell said it was exiting Australia's refining industry, and Caltex Australia said it would convert its Sydney refinery to an import terminal. Related links:   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
