Australia plans first oil refinery in 60 years

The Australian government and Western Australia are jointly funding a $4 million feasibility study for the country's first new oil refinery in 60 years, which would become Australia's third large-scale petrol refinery. This initiative is part of the Albanese government's strategy to reduce the nation's vulnerability to global oil shocks and fuel supply disruptions, particularly amid concerns about inflation stemming from Middle East conflicts.