Australia Considers First New Oil Refinery in Over 60 Years Amid Middle East Conflict
Australia is considering building its first new oil refinery in over 60 years as war in the Middle East strains fuel supplies and highlights the country's dependence on imported fuels. Prime Minister Anthony Albanese said the project will help build Australia's resilience and sovereign capability on fuel, potentially shielding it from future supply shocks.
The proposed refinery will be built by industrial chemical producer Perdaman in Western Australia, and a feasibility study is set to begin with joint funding of A$4 million (US$2.8 million) from the federal and state governments.
Albanese emphasized the impact of the war on global fuel supplies, saying 'The war in the Middle East … is having an impact here, like it's having an impact right around the world.'