ExxonMobil Bucks Trend by Investing in Australian Refinery

PERTH, AUSTRALIA--November 26, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--ExxonMobil Australia (Melbourne, Victoria), a subsidiary of Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas), is bucking the trend in Australian refining by injecting a large amount of capital into its Altona Refinery in Victoria. While most Australian refineries are cutting back on spending in order to contain rising debt, which is caused by high operating costs and competition from Asia, ExxonMobil is hoping that increased investment will contribute to increased productivity and profits at Altona.

Within this article: Overview of investments in the Altona Refinery in Australia by ExxonMobil Australia.

Other companies featured: Royal Dutch Shell plc (NYSE:RDSA), BP plc (NYSE:BP)