Australia refiners seek mergers, reevaluate gasoline sulfur rule

Australia has officially acknowledged the financial plight of the country's refining industry with the release in December of the Downstream Petroleum Products Action Agenda. Issued by the federal resources minister, Sen. Nick Minchin, the document acknowledges that the government will support restructuring in the refining industry, provided the companies concerned-BP Australia Ltd., Caltex Australia Petroleum Pty. Ltd., Mobil Oil Australia Ltd., and Shell Australia Ltd.-deliver clear public benefits.The refiners met individually with the government late last year to convey the need for extraordinary measures in order to combat increasing competition from products imports (OGJ, Dec. 6...

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