Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Australia’s post-election energy priorities
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
Australia’s changing gas risks
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
Dangote must face energy security home truths
Nigeria’s mega-refinery is traversing the world in search of crude for the majority of its needs and may well export large swathes of its products
Hydrocarbon Processing Refining Databook 2025: Americas
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
Hydrocarbon Processing Refining Databook 2025: Europe, Russia & CIS
EU net-zero polices have shifted refining investment among member states, while across the region countries and companies continue to adjust to changes in trade flows caused by the war in Ukraine
Hydrocarbon Processing Refining Databook 2025: Middle East & Africa
The Middle East is focusing on modernisation and expansion projects, while Africa is seeking to reduce its imports of refined products
Hydrocarbon Processing Refining Databook 2025: Asia-Pacific
A burgeoning middle class is boosting demand for refining capacity in Asia, with China leading the way and India also with many projects underway
US refiners cornered as supply options become limited
Weighed down by higher costs and lower margins, the US downstream sector is facing closures that could shrink capacity
Hydrocarbon Processing Refining Databook 2025: Introduction
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
Chinese refiners face moment of truth
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
The Geelong refinery will receive government support
Australia Refining
Simon Ferrie
24 June 2021
Follow @PetroleumEcon
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, diese

Also in this section
Andean upstream feels the heat
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
Fifty years of oil trading
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
OPEC+ keeps more barrels off market in April
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
Australia’s post-election energy priorities
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search