Australia Eyes 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 due to the impact of war in the Middle East on fuel supplies. Prime Minister Anthony Albanese announced the plan, which would help build the country's resilience and sovereign capability on fuel.

The project involves industrial chemical producer Perdaman building a large-scale oil refinery in Western Australia. The feasibility study for the project will be jointly funded by the Australian government and the Western Australia state government to the tune of A$4 million (US$2.8 million).

Albanese noted that the war in the Middle East is having a global impact, including on fuel supplies in Australia.