ExxonMobil’s decommissioned Altona refinery
Australia’s unresolved fuel security risks
Lack of competitiveness in refining sector and underbaked oil reserves threaten long-term stability
Australia’s deteriorating fuel security captured media attention and forced a political intervention just three years ago. Since then, the public discourse has fizzled out even though underlying issues persist. With two of the country’s last four refineries shutting in 2020–21 and the other two considering doing so, the increasingly vulnerable nature of the country’s fuel supply chain became apparent. Not only was Australia on the verge of losing its domestic refining sector, but its strategic petroleum reserve (SPR)—which held around 50 days of net imports—was far short of its requirement as an IEA member to hold 90 days of imports. The refining sector crisis prompted the then Coalition gov
Also in this section
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
