Related Articles
The Geelong refinery will receive government support
Forward article link
Share PDF with colleagues

Australia to subsidise remaining refineries

Concerned about supply security, Australia plans to fund its last two refineries standing for at least the next six years.

Australia has passed legislation intended to keep its remaining oil refineries open for at least another six years. The Fuel Security Bill 2021 includes fuel security services payments (FSSPs) “to support refiners during loss-making periods and enable them to continue refining until 30 June 2027”. The bill will “lock in the future of the refining sector”, make fuel supplies more secure and protect jobs, the Department of Industry, Science, Energy and Resources says. Refineries will start to receive payments for the production of key fuels from 1 July this year. The bill also includes a minimum stockholding obligation (MSO) for fuel importers and refiners to maintain reserves of petrol, die



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Beijing strives to balance security and decarbonisation
15 October 2021
The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years
Occidental exits Ghana
15 October 2021
The US super-indie is divesting its assets in the country
Gran Tierra cranks up the gears
14 October 2021
Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video