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Shell starts up Australian diesel storage venture

6 Aug 2012, 8.46 am GMT

Singapore, 6 August (Argus) — Shell started operations today at two new diesel storage tanks at its Mackay terminal in Queensland state, adding to Australia's increasing import profile as it shuts down refining capacity.

The storage tanks that hold a combined 240,000 bl will provide extra capacity and supply security to its customers in the Bowen basin and the far north of Queensland, Shell said.

The new storage facilities come amid rising diesel imports in Australia, ahead of the closure of some refineries that will sustain its buying from elsewhere in Asia-Pacific. Shell will close its 79,000 b/d Clyde refinery in Sydney on 30 September and convert it to an oil product import terminal. Australian refiner Caltex will close its 135,000 b/d Kurnell refinery in Sydney in the second half of 2014, also converting it an import terminal.

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