Shell To Cease Refining At Sydney Facility From Sept 30
06/06/2012| 10:18pm US/Eastern
By Ross Kelly
SYDNEY--Royal Dutch Shell PLC (>> ROYAL DUTCH SHELL PLC-B) said Thursday it will cease refining at operations in Sydney in about four months, as small-scale Australian facilities struggle to compete with larger refineries in Asia.
The Anglo-Dutch company said oil refining at the 79,000 barrel per day Clyde facility will stop from Sept. 30 following its announcement last July that it would be converted into a fuel import terminal.
Shell said last year that refining would cease before mid-2013.
Rival refiner Caltex Australia Ltd. (>> Caltex Australia Limited), which is 50%-owned by Chevron Corp. (CVX), is conducting a strategic review of its two Australian facilities, in Sydney and Brisbane, which it says could result in closures.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com