Allens assists Caltex with major supply chain restructuring
2 August 2012
Allens has advised Caltex on aspects of its recently announced restructuring of its petroleum products supply chain in the Asia region.
The major components of the restructuring include:
- the proposed closure in the second half of 2014 of Caltex's Kurnell refinery, to make way for its conversion to a major import terminal; and
- the entry by Caltex into an agreement with Chevron for the procurement and supply of transport fuels with associated shipping services to provide a reliable and efficient source of imported product.
Under a long-term product supply agreement, Chevron (which holds a 50 per cent shareholding in Caltex) will procure and supply Caltex with imported petrol, diesel and jet fuel at market-based prices.
Caltex's in-house legal team led the negotiation of the product supply agreement, with support from a Perth Allens team led by Oil and Gas Partner Anthony Patten.
'This agreement is one of clear strategic significance for Caltex,' Mr Patten said.
'We were pleased to assist Caltex's in-house team in formulating an arrangement with Chevron that will underpin the next phase of Caltex's operations in the Asia-Pacific region.'
The Allens team advised across all stages of the drafting process, from the initial heads of agreement, through to the final definitive product supply agreement.
| Allens legal team | Anthony Patten (Partner – Perth), Jessica Ham (Senior Associate – Perth), Kieran Chute (Lawyer – Perth), Anthony Graham (Law Graduate – Perth) |
Ends
For further information, please contact:
- Susan CowenCorporate Affairs Adviser,
Melbourne
Ph: +61 3 9613 8374
Susan.Cowen@allens.com.au
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 36 offices in 27 countries around the world.