Potential for first Australian oil refinery in 60 years as treasurer braces for inflation from Middle East war
The Australian government is funding a feasibility study for a new oil refinery to reduce reliance on imports amid global supply chain vulnerabilities. This move follows warnings from the treasurer regarding inflation risks linked to the ongoing Middle East conflict.
Why it matters
The initiative highlights the intersection of national energy security and global geopolitical instability in shaping domestic economic policy.
There are just two local refineries in operation in Australia: Ampol’s Lytton refinery in Brisbane, pictured, and Viva Energy’s facility in Geelong. Photograph: Darren England/AAP There are just two local refineries in operation in Australia: Ampol’s Lytton refinery in Brisbane, pictured, and Viva Energy’s facility in Geelong. Photograph: Darren England/AAP Petrol prices Potential for first Australian oil refinery in 60 years as treasurer braces for inflation from Middle East war Commonwealth and Western Australia to fund study into construction of large-scale petrol refinery as buffer against fuel vulnerability
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Prefer the Guardian on Google Australia’s first new oil refinery in 60 years could be built in Western Australia under the Albanese government’s long-term strategy to shield the country from future global oil shocks.
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