SINGAPORE (Reuters) - BP (L:BP) will cease production at its 102,000 barrels per day Bulwer Island refinery in Brisbane in May, a spokeswoman said on Thursday.
The company previously announced the closure of the refinery by mid-2015 as it restructures its struggling refining and marketing business in Australia.
Australia's refineries, owned by BP, Royal Dutch Shell (L:RDSa), ExxonMobil (N:XOM) and Caltex (AX:CTX), are facing strong competition in Asia and high costs.
U.S. energy giant Chevron (N:CVX) sold its entire stake in Australia's Caltex last month as falling oil prices and high costs hurt margins.