Caltex Australia says Kurnell oil refinery to close in 2014

SYDNEY, Sept 28 Thu Sep 27, 2012 6:57pm EDT

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SYDNEY, Sept 28 (Reuters) - Caltex Australia said on Friday its loss-making 124,500 barrel-per-day Kurnell oil refinery in Sydney will shut down in the second half of 2014.

Caltex confirmed plans to convert the refinery into an import terminal.

The company said it had begun consultations with its employees at the 57-year-old refinery. It has previously said more than 600 jobs would be cut.

Australian refiners have been grappling with ageing equipment, cheaper imports, high costs and a strong Australian dollar, leading to closures, restructurings and reviews of operations. (Reporting by Jane Wardell; Editing by John Mair)

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