BP BULWER ISLAND REFINERY TO SHUT NEXT YEAR

Written on the 2 April 2014

BP BULWER ISLAND REFINERY TO SHUT NEXT YEAR BP plans to close its Bulwer Island refinery in Brisbane by mid-2015, following increased competition from large refineries in the Asia-Pacific region.

BP Australasia president Andy Holmes says structural changes in the fuels supply chain have put pressure on the 102,000 barrels per day plant.

“It’s against this background that we have concluded that the best option for strengthening BP’s long-term supply position in the east coast retail and commercial fuels markets is to purchase products from other refineries.

“And while more of our transport fuel demand will be met by imports in future, ample supplies are available to maintain Australia’s energy security,” he says.

The refinery employs 380 staff members, expected to drop to 25 once supply is regulated and process units are shut down.

“While this decision will significantly improve our competitive position, it will result in job losses and I would like to acknowledge the enormous commitment and contribution made over many years by our staff at Bulwer Island.”

Site managing director Tim Wall says staff will find the changes difficult to process.

“We will be putting measures in place to assist our affected employees, including transitional support and job placement assistance.

“Given the quality of our people, I’m confident that those who choose to look for alternative employment will be highly regarded by employers in this area,” Wall says.

Caltex will provide motor spirit and diesel from its Lytton refinery, to avoid service disruptions.

Plans to convert the site into a multi-product import terminal are being considered.

(Image: BP p.l.c)


Latest News

CROMWELL TRADES STEADILY IN FIRST HALF

CROMWELL Property Group has maintained a steady operating profit at $0.045 per security in the first half of FY17,...

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.
...

PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

A RISING Aussie dollar has offset PWR Holdings Limited's (ASX:PWH) overseas growth in the last half, forcing a...

SUPER RETAIL GROUP RESULTS SHINE ACROSS THE BOARD

A WELL-planned and executed half has paid off for Super Retail Group (ASX:SUL) as it posts a net profit result up ...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter