International petroleum giant Shell has confirmed that it will close its Clyde Refinery from the end of September, following an announcement last July that the refinery would be converted into a dedicated fuel terminal.

 

 “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,” Shell Australia Downstream Vice President Andrew Smith said.

 

“Since the decision was taken, the refinery has continued to struggle against sustained poor industry margins and intense competition from mega-refineries in Asia.”

 

Mr Smith said the company will continue to support the staff whether it’s within the new terminal operation, elsewhere within Shell or outside the company.