June 7, 2012 / 2:00 AM / 7 years ago

Shell to shut Australia Clyde oil refinery Sept 30

SYDNEY, June 7 (Reuters) - Oil giant Royal Dutch Shell will close its 79,000 barrels-per-day Clyde refinery near Sydney on Sept. 30 and convert the facility into a fuel terminal.

The refinery has been struggling with poor industry margins and intense competition from mega-refineries in Asia, Shell said in a statement.

“The initial decision to close and convert Clyde, taken in July last year, was consistent with Shell’s strategy to focus its refining portfolio on larger assets and to build a profitable downstream business here in Australia,” it said.

Reporting by James Regan; Editing by Ron Popeski

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