The decision was made following an extensive review of operations at Australia’s smallest refinery, which commenced operation in 1949. The review considered the competitive supply of products into Australia, declining domestic crude oil production, future capital investments and the impacts of these factors on operating earnings.
“We are grateful for the tremendous efforts by our employees to improve the viability of the operation,” said Nathan Fay, chairman of ExxonMobil Australia. “We extend our thanks to the federal government for the significant support offered to Altona and other refineries. Our decision to convert our facility to a terminal is not a reflection of those efforts.”
The Altona refinery will remain in operation while transition work is undertaken to ensure a continued reliable fuel supply for customers.
Read the article online at: https://www.hydrocarbonengineering.com/refining/11022021/exxonmobil-to-close-altona-refinery-and-convert-it-to-import-terminal/
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