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Australia launches feasibility study for new oil refinery
The plan is aimed at reducing Australia’s reliance on imported transportation fuels after supply disruptions in March, including the Hormuz crisis and a refinery fire.
Australia’s government has launched a feasibility study for a new oil refinery that, if approved, would be the first refinery built in the country in six decades, according to OilPrice, citing Reuters.
Prime Minister Anthony Albanese said a domestic refinery would improve the country’s self-sufficiency in fuel supply and help protect it from potential future oil shocks, framing the effort as part of building national resilience against global events.
OilPrice reports that the Albanese government is also pushing for a transition away from oil, coal, and gas toward wind and solar, even as Australia remains a major producer of gas and LNG but still relies on imports for most transportation fuel.
The article notes that Australia’s fuel situation worsened in March due to the Hormuz crisis and after a fire broke out at one of the country’s only two refineries, leading the federal government to cut the gasoline and diesel fuel excise by half for three months and to secure about 100 million liters of additional diesel with two shipments in April.
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