Global oil giant BP will shut its Bulwer Island refinery in Brisbane with the loss of hundreds of jobs. Staff numbers at the refinery will be cut from 380 to 25 by 2015. Andy Holmes, president of BP Australasia, told a press conference in Melbourne that the refinery was being closed because the emergence of major export-based refineries in Asia operating on a lower cost base had "transformed the industry". "[It has] presented the Bulwer operation with an unsurmountable challenge," he said. The move follows Shell's February decision to sell its Australian refinery as well as 870 petrol stations to Vitol for $2.9 billion. Shadow treasurer Chris Bowen says the Federal Government needs a plan to deal with recent job losses. More » |
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