BP to close Australia’s largest refinery

Oil

BP has announced that it plans to close its 146K b/d Kwinana oil refinery located in Western Australia within the next six months, as existing issues caused by increasing competition from other refineries in Asia have been exacerbated by the slump in oil demand triggered by the coronavirus pandemic, Reuters report. The Kwinana refinery, which is the largest of the four within Australia, is set to be converted into a fuel import terminal, with two of Australia’s other refiners also reportedly reviewing the future of their facilities.