(EnergyAsia, February 26, Thursday) — Downstream company Caltex Australia Ltd said plunging oil prices and production sank its 2008 net profit fell by 95% to A$34 million from A$646 million in 2007. (US$1=A$1.55). The unplanned shutdown of its two refineries knocked 10% off its production of gasoline, diesel and jet fuel. World oil prices plunged…
AUSTRALIA: Caltex reports 95% drop in net profit on lower oil price, output
Posted on February 25, 2009 by EnergyAsia