Australia considers first oil refinery in 60 years amid Middle East tensions
The Australian government and Western Australia are jointly funding a $4 million feasibility study for what could be the country's first new oil refinery in 60 years. This strategic initiative aims to reduce Australia's vulnerability to global oil disruptions and provide a buffer against fuel supply shocks, particularly in light of geopolitical tensions in the Middle East.
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Potential for first Australian oil refinery in 60 years as treasurer braces for inflation from Middle East war
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.
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