Oil giant BP is closing one of its refineries at Bulwer Island in Brisbane, with hundreds of jobs expected to be lost.
According to an ABC News report, the 380 staff will be cut to just 25 by next year.
BP says the site produces 101,000 barrels of oil per day.
This comes after rival Shell’s decision to sell its Australian refinery, as well as 870 petrol stations in Vitol for $2.9 billion.
There’s more here.