Shell Australia has announced to put its 120,000 barrels per day of Geelong Refinery up for sale as part of its global strategy.

The company intends to make investment on large scale sites, such as its Pulau Bukom refinery in Singapore.

Built on a 120ha site adjacent to Corio Bay in Geelong, Victoria, the Geelong refinery processes crude oil to produce major products, including Petrol (25% being high octane grades), diesel fuel, jet fuel, bitumen, LPG, specialty solvents, and avgas.

The sale also emphasizes Shell’s local strategy to grow its retail and bulk fuels business, along with terminals and pipelines.

Shell Australia downstream vice-president Andrew Smith said the refinery sales process will create a period of uncertainty for employees.

"I understand this announcement will be difficult for refinery employees, but Shell will support them through this period of uncertainty," Smith added.

"Refinery employees in Geelong have made a significant contribution to both Shell and the local community over many years, supporting the economy in south east Australia."

The company has suggested that in case the sale of the refinery cannot reach a successful deal, it will convert the facility into an import terminal.