The British company BP plans to invest 10 billion AUD in Australia to expand its network of service stations and developed oil and gas projects in the country. The company operates the largest refineries on the island and wants to grow its business. Within the next 12 months BP will open in Australia over 12 new stations, said the president of the group in Australia Andy Holmes. He refused to indicate whether BP is considering the acquisition of specific local companies.
According to Holmes in the next five years BP will invest around 2.3 billion AUD in refining and marketing, including Quintus refinery in Perth, Western Australia. In addition, more than 1 billion AUD will be spent on deepwater drilling in the southern shelf of the continent. These activities will begin in 2016.
BP intends to expand its distribution network in Australia because of increased competition from companies such as Trafigura Beheer BV and Vitol Group. Currently, the British company has about 1,700 petrol stations in Australia.
By mid-2015 BP will stop developing Balvar Island refinery in Queensland, which can be reorganized and used as a terminal for fuel imports. The British company is also interested in the areas that will be developed within the gas project “Gordon” in Western Australia, operator of which is Chevron.