What the press is saying about petrol, LPG, diesel, crude oil, biofuel etc.
(Click on the "News Article" link for the full story, opens in new window)
Future of Caltex Refineries
17-02-2012 SMH. The Caltex refineries at Sydney and Brisbane, its 800 employees and 650 contractors, face an uncertain future after the company yesterday slashed $1.5 billion off the value of its two refineries in Kurnell and Lytton to just $340 million.
The two refineries produce almost a third of all Australian petroleum products. This news comes only seven months after Shell announced it would shut its Sydney refinery at Clyde, turning it into an import-only terminal.
Like Shell, Caltex is not suggesting its decision has anything to do with the carbon-tax, due to start in July 2012. However, refining being a highly carbon intensive activity, it would be unlikely that the tax is not being taken into account.
It is highly probable that Caltex, like Shell, would convert the refineries into import-only terminals, importing the finished products from Singapore, where there is no carbon-tax. News Article
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