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
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