BP refines its long-term vision

BP's closure of its Bulwer Island plant is the latest in a line of sub-scale refinery shutdowns in Australia, as an oversupply of product forces oil companies to rethink their corporate strategies.

First it was Caltex, then Shell. Now BP has also been forced by the economic realities of operating oil refineries in this market to reassess its operations and to conclude that it should shut down refining capacity.

BP’s announcement today that it would close its Bulwer Island refinery in Brisbane was almost a forgone conclusion given what has preceded it.


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