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Caltex retains a strong balance sheet

AUSTRALIAN refiner and fuel giant Caltex might have slashed capital spending by $50 million and closed its only refinery until fuel demand recovers, but its first quarter report released yesterday shows the company in relatively good health, all things considered.

paul hunt
Caltex retains a strong balance sheet

  Convenience retail was the company's saving grace, as unprecedented impacts from COVID-19 restrictions dried up fuel demand.  For a company with a 35% wholesale market share, Caltex was expected...

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