Australia Eyes New Oil Refinery as Part of Energy Resilience Strategy

Australia is embarking on a feasibility study for its first new oil refinery since 1965, backed by A$4 million in government funding. The proposed facility would be built and operated by Perdaman Group, a closely held company owned by billionaire Vikas Rambal.

The Karratha site was chosen due to its proximity to existing industrial infrastructure, including iron ore mines and natural gas production. The refinery is expected to create thousands of jobs and improve diesel supply for regional Western Australian communities.

However, experts have questioned whether a new refinery would truly address Australia's fuel security challenges. Rick Wilkinson, CEO of EnergyQuest, pointed out that even the former BP refinery at Kwinana relied on imported oil, leaving the country vulnerable to global supply disruptions.