Hundreds of jobs are set to be cut as ExxonMobil announced the closure of its Altona oil refinery, Melbourne.
The company said the refinery was no longer economical and the site would be converted into an import terminal.
However, ExxonMobil said an import terminal will ensure a continuous and reliable fuel supply to the state.
ExxonMobil Australia Chairman Nathan Fay said the decision was not based on the substantial support the refinery has received from the federal government.
« Our decision to convert our facility into a terminal does not reflect these efforts, » he said.
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