Refinery Closures Continue as Imports Grow in Australia

BP’s Kwinana oil refinery, the largest in Australia with a capacity for 146,000 barrels per day, is expected to shut in its production this year, resulting in a reduction of over one-fifth of the country’s fuel production ability. Once production is shut in, BP plans to convert the facility into an import terminal for a country growing increasingly reliant upon imported fuel. This refinery closure is another indicator of the change for this country as its import demand is anticipating a noticeable uptick this year, as Australian refiners are having to make tough, long term decisions. In a recent report from the Australian Department of Industry, Science, Energy and Resources, the import of

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