Australia struggles to stop downstream exodus
Australia’s energy security takes another hit with ExxonMobil opting to shutter its Victoria refinery
ExxonMobil plans to convert its 90,000bl/d Altona refinery into a fuel import terminal, after concluding it is no longer economically viable. Coming a little over three months after a similar announcement from BP concerning its 138,000bl/d Kwinana refinery in Western Australia, the shutdown will shrink Australia’s refining capacity from 457,000bl/d to just 229,000bl/d by 2022. With the country then having to rely more heavily on regional fuel suppliers to meet demand, there are growing concerns about how the government intends to safeguard its energy supply lines. Lifeline falls short Although the coronavirus pandemic sent the Australian downstream into a tailspin in 2020, refinery operators
Also in this section
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
