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
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing