Shell sees viable Australia refinery future
Date: 07-Sep-01
Country: AUSTRALIA
"Shell is confident that the Geelong plant does have a viable future and it is for this reason we are making the commitment to invest," Shell chairman Peter Duncan said in a statement.
The investment involves treatment of waste water from the 125,000 barrels per day refinery.
Australia has eight refineries, owned by four companies, which produce in total around 800,000 bpd.
Industry participants and analysts have forecast for several years that poor margins in the refining sector and the need to meet new clean fuel standards could cause more than one refinery to close.
Duncan said the Geelong refinery had taken major steps to improve its performance in the last 12 months.
