An extended period of coronavirus-related oil demand destruction has exposed weaknesses in Asia and Oceania refineries, with a slew of fuel producers in the region reviewing 2020 operation plans in the face of falling margins and fast filling onshore storage. Receive daily email alerts, subscriber notes & personalize your experience. Register Now In Oceania, Australian refiners were among the hardest hit by tumbling refining margins, forcing the fuel producers to slash operating rates, though the run cuts have not been enough, industry sources noted. In order to preserve capital, Caltex Australia’s 109,000 b/d Lytton Refinery has preponed a scheduled turnaround to May, while Australia’s second-largest refinery — Viva Energy’s 120,000 b/d Geelong refinery — is also mulling changes to $100 million worth of works at its […]