BP is to sack up to 300 workers, but the global energy giant insists it is not giving up on the Australian market.

A spokesman for BP Australia on Wednesday confirmed the job cuts, centred mainly at the company’s Australian headquarters in Melbourne.

Employees at the two refineries in Western Australia and Queensland will not be affected.

The company employs 7500 workers in Australia, with 1250 based in Melbourne.

The spokesman would not confirm the number of job cuts, but it is believed to be about 300 employees.

“We would expect the bulk of job losses would be concentrated in Melbourne,” the spokesman told AAP.

Employees are expected to be informed which positions will go by March.

Despite the job cuts, BP says it remains committed to the Australian market, claiming the restructure would make it more competitive.

“The market for transport fuels in Australia – unlike the market for Europe and the US – is growing, basically on the strength of the economy and the demand,” the spokesman said.

“It’s a growth market – we want to get a bigger market share, but our cost base is too high and we need to tackle that. We need to get a bit smarter and a bit quicker on our feet.”