2014-02-07 06:30:03 - Refined Petroleum Products in Australia: ISIC 232 - a new market research report on companiesandmarkets.com
Australia´s refined petroleum industry makes a major contribution to the domestic economy, generating revenues of A$24 billion and accounting for 5% of total tax collections in 2010. The country´s downstream oil industry is built on a platform of refineries supplying a nationwide network of fuel distribution and retailing.
These refineries employ more than 6,400 people and account for A$200-400 million in annual capital investment. Australia´s refineries are however relatively small compared to newer and larger refineries in the region, particularly in Singapore.
Industry turnover grew by an average of 3% per annum over 2000-2010, with this growth resulting entirely from soaring fuel prices worldwide. Turnover at constant prices meanwhile showed continuous decline since 2003. The producer price index (base year 1997) for
this industry grew from 163 in 2000 to 279 in 2010.
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