Caltex to close lube refinery at Kurnell

February 1, 2010

Caltex Australia will shut down Australia’s only remaining lube refinery at Kurnell, New South Wales, by 2011, after a disastrous second half under new Chief Executive Julian Segal. The Melbourne-based oil company, which earlier warned it faced tough second half 2009 conditions, confirmed that it would report a full-year operating profit of A$300-325 million (US$273.80 million-US$296.62 million) for 2009. Caltex said the closure of the Kurnell refinery, which produces lubricating base oil, as well as greases, waxes and bitumen, would see the loss of about 85 jobs and incur A$93 million (US$84.88 million) in write-downs and redundancy costs. The refinery produces 168,000 metric tons per annum of Group I base oil. (December 10, 2009)

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