Australia's Caltex says strong A$ pressures margins

Thu Nov 12, 2009 3:22am GMT
 
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MELBOURNE, Nov 12 (Reuters) - Caltex Australia Ltd's (CTX.AX) refining margins are under pressure from a strong Australian dollar, CEO Julian Segal told reporters on Thursday.

He said refining margins were measured in U.S. dollars, so the firm's margins were now narrower when translated into local currency. (Reporting by Sonali Paul; Editing by Mark Bendeich)

 

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