Bp is going to close the Kwinana refinery in Australia and convert it to a fuel terminal. Expect hundreds of job losses. No surprise there. I understand it hasn’t made money lately. Combine that with competition coming from Asia, depressed demand due to Covid-19, and Bernard’s push towards green energy and this was inevitable. I wonder which refinery is next?
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Let’s be honest, the only reason bp are converting the refinery to a terminal is because they can’t sell it. Expect all of bp refining to go up for sale or suffer the same fate as Kwinana. We are all buggered.