BP to close Brisbane refinery, sheds 355 jobs

ELIZABETH REDMAN
APRIL 02, 2014
BUSINESS SPECTATOR
OIL giant BP has confirmed it will close its Bulwer Island refinery in Brisbane, with the loss of 355 jobs, by mid-2015.
The multinational oil and gas company said the growth of very large refineries in the Asia-Pacific region was driving structural change in the supply chain for fuels and putting commercial pressure on smaller scale plants.
BP Australasia president Andy Holmes said the best option to strengthen BP’s long-term supply position in the east coast retail and commercial fuels markets was to buy product from other refineries.
“And while more of our transport fuel demand will be met by imports in future, ample supplies are available to maintain Australia’s energy security,” Mr Holmes said.
“While this decision will significantly improve our competitive position, it will result in job losses and I would like to acknowledge the enormous commitment and contribution made over many years by our staff at Bulwer Island.
“We will be doing everything we can to support them through this transition.”
BP said it currently employs some 380 staff at the refinery and expects this to fall to around 25 by mid-2015.
The news follows Shell’s February decision to sell its Geelong refinery and retail business to Vitol for $2.9 billion.
“I understand that BP is making steps to retain some workers but, obviously, not all,” shadow treasurer Chris Bowen told reporters in Sydney.
“We would encourage BP and the federal and state governments to work cooperatively to ensure every assistance possible is given to the workers.”