BP says to close Bulwer refinery in Australia in 2015

SYDNEY, April 2 Tue Apr 1, 2014 8:40pm EDT

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SYDNEY, April 2 (Reuters) - BP said on Wednesday it will cease production at its Bulwer Island refinery in Brisbane by mid 2015 as it restructures its struggling refining and marketing business in Australia.

Australia's refineries, owned by BP, Royal Dutch Shell , ExxonMobil and Caltex, are struggling against strong competition in Asia, a strong Australian dollar and high costs.

Shell earlier this year said it was exiting refining and marketing in Australia, selling the business for around $2.6 billion to global oil trader Vitol SA. (Reporting by Jane Wardell; Editing by Ed Davies)

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