Australia Eyes First New Oil Refinery in Six Decades Amid Fuel Security Concerns

Australia's federal and Western Australian governments will jointly study the feasibility of building a new oil refinery in the country's northwest. The project aims to strengthen fuel security after supply disruptions during the Iran conflict.

The proposed refinery, to be built and operated by Perdaman Group, would be Australia's first new oil refinery since 1965. The government will provide A$4 million (US$2.8 million) to support a feasibility study for the project in Karratha.

Australia currently has only two operating oil refineries, supplying less than one-fifth of the country's fuel demand. Disruptions in April and May highlighted the nation's reliance on imported fuels, leading Prime Minister Anthony Albanese to announce the new study.