bp to cease production at Kwinana Refinery
bp Australia today announced that it will cease fuel production at its Kwinana Refinery and convert it to an import terminal, helping to ensure ongoing security of fuel supply for Western Australia.
The refinery, near Fremantle, has provided fuels for Western Australia for 65 years. However, the continued growth of large-scale, export-oriented refineries throughout Asia and the Middle East has structurally changed the Australian market.
Regional oversupply and sustained low refining margins mean the Kwinana Refinery is no longer economically viable. Having explored multiple possibilities for the refinery’s future, bp has concluded that conversion to an import terminal is the best option.
bp Australia head of country Frédéric Baudry said: “bp’s Kwinana Refinery has played an important role in the development of Western Australia. It helped underpin the early development of the surrounding community and key industries. Generations of Western Australians have worked at the facility, building a fantastic legacy of safe and reliable operations that we will always be proud of.
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Submitted by: Press release