BP announced today that they are going to close the Kwinana refinery and use it as an import terminal for refined products. At the present time there is not much oil production in the Perth basin but it is all trucked to BP . As far as I know there is no export terminal accessible for Perth Basin crude . Buru energy exports crude but it goes out through a single tank in Wyndham !!!!!!!! No way that is a possibility for Perth basin crude.
Complete closure may be 6 months away . 650 jobs lost.
There needs to be a small fit for purpose refinery for local crude or an export terminal built.
The government needs to put some action behind their Slogans about Robust Supply Chains , Nation Building , Industrial Capability and JOBS.
There is significant oil drilling proposed for the Perth Basin next year but it will not happen if there is no sale pathway for the oil.
MEL Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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