• Спецпроекты
  • Weather forecast
    • Exchange Rates
    • 425.82
    • 518
    • 5.92
  • SEND YOUR NEWS TO US WhatsApp +7 (777) 001 44 99
  1. Main
  2. Learn
  3. Economy
  4. Companies

Shell puts last Australian refinery on market 04 апреля 2013, 11:33

Global energy giant Shell announced Thursday it was selling its last remaining Australian refinery to focus on more sizeable assets abroad, a move that threatens 470 jobs.
  • Vkontakte
  • Facebook
  • Twitter
  • Одноклассники
  • Telegram
Новостью поделились: человек

Shell puts last Australian refinery on market Shell puts last Australian refinery on market
Global energy giant Shell announced Thursday it was selling its last remaining Australian refinery to focus on more sizeable assets abroad, a move that threatens 470 jobs, AFP reports. Shell Australia, the local arm of Royal Dutch Shell, said it would put its 120,000 barrel-per-day Geelong refinery in Victoria state on the market in line with its new Australian strategy focusing on retail and bulk fuels. It follows the 2011 conversion of its Sydney refinery at Clyde to an import terminal for Asian fuel due to major competition in the region which had rendered the 75,000 barrel-per-day site unfinancial. "The proposed sale of the refinery is in line with Shell's global strategy to concentrate investment on large-scale sites, such as the company's world scale Pulau Bukom refinery in Singapore," Shell said in a statement. Though it was targeting a sale, Shell said converting the Geelong plant to an import terminal was also a possibility "if a sale with agreeable terms and conditions cannot be reached". Shell Australia downstream vice-president Andrew Smith said the company was hopeful of finding a buyer that would keep the refinery open and the site's 470 workers in a job. The Geelong plant has been running since 1954 and supplies about half of Victroia's fuel and 30 percent of that in neighbouring South Australia state. It is Shell's last remaining refinery in Australia. "Shell is one of Australia's largest private sector investors, and remains committed to its business in Australia," said Smith. "I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty." Shell has said its Australian operations offered dwindling margins as major competitor refineries opened in India, Singapore, South Korea and Japan. It has shifted its Australian focus to the burgeoning liquefied natural gas sector, where it hopes to be a major investor. Local petroleum rival Caltex Australia -- 50 percent owned by Chevron -- also shut its struggling Sydney operations last year, leaving the nation's largest city with no local refinery and reliant on imports for its fuel needs.

Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan

Firebase Cloud Messaging