BP has put plans for a $600 million renewable fuel hub at its mothballed Perth oil refinery on hold, the latest clean energy project to be put on ice as developers reconsider the level of demand and their returns.

The British petroleum giant confirmed that it would be “adjusting the pace of delivery” of the Kwinana Renewable Fuels project, as the development is known, “with a focus on improving capital efficiency and better alignment with government policies”.