Caltex bids for Woolworths' fuel business

Fuel refiner and retailer Caltex has confirmed it has made an offer for partner Woolworths' fuels business.

Woolworths is in discussions with interested parties as it considers selling its petrol business. (AAP) Source: AAP

Fuel refiner and retailer Caltex has confirmed it has made a conditional and confidential proposal to buy supermarket giant Woolworths' fuels business.

"As the sale process is ongoing, and any transaction remains uncertain and is expected to take time to complete, Caltex will update the market as appropriate if there are any material changes to Caltex's existing wholesale supply arrangements with Woolworths," the company said on Tuesday.

Caltex, which is currently the exclusive supplier of petrol and diesel to Woolworths, had been speculated to be one of the bidders for the fuels business after the struggling supermarket operator in September said it was discussing a possible deal with several interested parties.