Global oil giant BP will shut its Bulwer Island refinery in Brisbane, affecting 380 jobs, the ABC understands.
The ABC understands staff numbers will be cut to 25 by 2015.
The refinery produces 101,000 barrels of oil per day, according to the BP website.
The Brisbane refinery dates back to 1965 and was acquired by BP 30 years ago.
The move follows Shell's decision in February to sell its Australian refinery as well as 870 petrol stations to Vitol for $2.9 billion.
more: Hundreds of jobs to go as BP closes Brisbane refinery
Global oil giant BP will shut its Bulwer Island refinery in Brisbane, affecting 380 jobs, the ABC understands.
The ABC understands staff numbers will be cut to 25 by 2015.
The refinery produces 101,000 barrels of oil per day, according to the BP website.
The Brisbane refinery dates back to 1965 and was acquired by BP 30 years ago.
The move follows Shell's decision in February to sell its Australian refinery as well as 870 petrol stations to Vitol for $2.9 billion.
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