Australia plans first local oil refinery in decades
Australia is considering the establishment of its first domestic oil refinery in over 60 years, aimed at strengthening the country's fuel supply security amidst global tensions and the war in the Middle East, which have impacted oil availability. The study, which will be carried out at a cost of approximately AUD 2.8 million, reveals the urgent need to revert to local oil refining after most refineries have shut down over recent decades due to rising costs and competition from Asian refineries. This decision comes as Australia, which relies on imports to meet 80% of its fuel consumption, has had no fuel refining facility in the western part of the country since the closure of the BP refinery in Queensland in 2021. Only two facilities remain operational in the eastern part of the country.
Notice: This Is an AI-Generated Summary
Comments (0)