Asia/Pacific News
State Support Needed for Australia's Ailing Refineries
Oil major Exxonmobil has called on Australia's government to support the country's ailing refining sector following the move by BP to turn its Kwinana plant into an oil products terminal.
The 146,000 barrels a day (b/d) Kwinana refinery is Australia's largest unit.
Exxonmobil operates the 90,000 b/d Altona refinery, the country's smallest, near Melbourne, Australia's second largest city. Melbourne's lockdown, in place since August, saw restrictions eased last week.
The company has said that the plant is running at a loss, according to Reuters.
Talks between the governement and the refiners on the sector's future are underway but Exxonmobil is urging the government to release aid now given the pressures the sector is facing, the report said.
There are four, working refineries in Australia but regional competition has made these units increasingly uncompetitive.
