Another leg is kicked out of the Australian refining industry as Caltex writes down the value of...

|About: Caltex Australia, Ltd. (CTXAF)|By:, SA News Editor

Another leg is kicked out of the Australian refining industry as Caltex writes down the value of its 2 refineries by $1.4B ahead of an operational review that could lead to closures. New facilities in China and India combined with the powerful aussie have made domestic refining uncompetitive.