Caltex confident of Brisbane refinery’s future

Caltex says it is confident about the future of its Lytton refinery in Brisbane, after announcing it will close its Sydney operations.

Caltex says it will transform its Kurnell refinery in Sydney into a fuel import terminal by the middle of 2014 because it is no longer competitive.

Chief executive Julian Segal says the circumstances surrounding its Brisbane operations are different to those in Sydney.

“In terms of its ability to match better the demands of the product mix in the market particularly in respect to premium fuel and to diesel,” he said.

“The hardware is different and therefore we saw a pathway to improving the efficiency and competitiveness of the Lytton refinery.

“We stand by the decision and yes, we will be considering some modest investments.”

The Sydney refinery currently employs about 430 workers, that number will be cut to 100 over the next two years and an additional 300 contractors may also be affected.