Australia struggles to stop downstream exodus
Australia’s energy security takes another hit with ExxonMobil opting to shutter its Victoria refinery
ExxonMobil plans to convert its 90,000bl/d Altona refinery into a fuel import terminal, after concluding it is no longer economically viable. Coming a little over three months after a similar announcement from BP concerning its 138,000bl/d Kwinana refinery in Western Australia, the shutdown will shrink Australia’s refining capacity from 457,000bl/d to just 229,000bl/d by 2022. With the country then having to rely more heavily on regional fuel suppliers to meet demand, there are growing concerns about how the government intends to safeguard its energy supply lines. Lifeline falls short Although the coronavirus pandemic sent the Australian downstream into a tailspin in 2020, refinery operators
Also in this section
5 February 2025
With new capacity, buyers must navigate sanctioned Russian crude, a return to traditional OPEC barrels and diversity of supply
4 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
4 February 2025
The threat of Trump tariffs and the departure of Trudeau have sharpened the domestic political focus on boosting the oil and gas industry
3 February 2025
Alaska has been engulfed by a lack of consistent policymaking and highlights the challenges financing energy projects in the US
