(EnergyAsia, July 2 2013, Tuesday) — Australia’s largest downstream company Caltex said an A$50 million loss at its refining business partly took the shine off its first-half net profit of between A$180 and A$200 million. (US$1=A$1.05).

Investors sold the shares of the Australia-listed firm despite its improved profit level compared with A$167 million reported for the same period last year.

Caltex, which is half owned by US major Chevron, blamed the loss at its refining unit on the weaker Australian dollar against the US dollar, a fire at the Lytton plant in Brisbane and a damaged fuel pipeline linking it to Sydney.