Australia debates oil-import reliance options
Rising geopolitical tensions in maritime zones heighten its energy-security risk
With a high dependence on imported oil and products, diminished refining capacity, low oil stockholdings and a geographically-disparate refuelling network, Australia could quickly face gasoline, diesel and jet fuel shortages if inbound shipping or Asian refining capacity is ever disrupted. In its latest country review on Australia, the International Energy Agency again highlighted the nation's position as the sole net oil importer among its 30 member countries. For several years, Australia has been the only IEA member country lacking public stockholdings of oil. It also relies solely on the commercial stockholdings of its energy industry to meet its obligation under the Agency's Internationa
Also in this section
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
