AUSTRALIA
<i> Times Staff and Wire Reports</i>
Mobil to Spend $150 Million on Refinery: The company said the fluid catalytic cracker at its Altona refinery near Melbourne, Australia, will increase the high value products extracted from crude oil. Catalytic crackers use catalysts to break down heavy oil into lighter, more valuable products. Fairfax, Va.-based Mobil Corp. said the project has been approved by the Australian Environmental Protection Agency and that construction is now under way.
