How many refineries are left in Australia?
Australia’s four refineries were just emerging from years of losses when the pandemic hit fuel demand last year, aggravating the pain of competing against Asia’s mega refineries.
Where are the two oil refineries in Australia?
Under the federal government’s package, the two refineries — in Queensland and Victoria — will be offered up to 1.8 cents per litre of fuel they produce until 2030. Prime Minister Scott Morrison said it would protect hundreds of jobs at both the Ampol refinery at Lytton and the Viva refinery in Geelong.
What are the four oil refineries in Australia?
The diversity of supply sources and import locations provides flexibility in the Australian fuel supply chain, ensuring the reliable supply of fuel locally.
- Altona (Mobil – Melbourne)
- 5.0 billion litres per year.
- Kwinana (BP – Kwinana WA)
- 8.6 billion litres per year.
- Lytton (Caltex – Brisbane)
- 6.5 billion litres per year.
When did Kwinana refinery close?
Built by the Anglo-Iranian Oil Company and completed in 1955, it was the largest oil refinery in Australia, with a capacity of 138,000 barrels per day (21,900 m3/d). It was closed by BP in March 2021 to be converted to an import-only terminal.
Why are Australian refineries closing?
The COVID 19 pandemic has resulted in one of the worst years refiners have ever faced. The catastrophic loss of nearly 10 million b/d of global oil demand has led to many refiners idling until economic conditions improve.
Is there an oil refinery in Brisbane?
Lytton Oil Refinery is an oil refinery in the Brisbane suburb of Lytton in Queensland, Australia. It is owned and operated by Ampol. It has a capacity of 6.5 billion litres of crude oil per year.
When did Australia stop refining oil?
Crude oil is the basic feedstock for the manufacture of refined petroleum product (including petrol and diesel) and its price has a major bearing on petrol pump prices. The Australian crude oil market was fully deregulated in 1988 and Australian crude prices now reflect world market prices.
Why is Kwinana refinery closing?
The company said that the refinery is no longer economically feasible due to the regional oversupply and continuous lower refining margins. After exploring various options for the refinery’s future, it made the decision to go ahead with the conversion of the facility to an import terminal.
Does Australia still produce oil?
Oil Production in Australia Australia produces 373,728.37 barrels per day of oil (as of 2016) ranking 31st in the world. Australia produces every year an amount equivalent to 11.4% of its total proven reserves (as of 2016).
Is BP Australian owned?
BP plc (official styling BP p.l.c., formerly The British Petroleum Company plc and BP Amoco plc) is a British multinational oil and gas company headquartered in London, England. It is one of the world’s seven oil and gas “supermajors”.
What happened to bpbp’s oil refineries?
bp ceased refining crude oil at Kwinana refinery in March 2021 and at Bulwer Refinery in 2015. Both former refinery sites now operate as fuel import facilities, with clean energy opportunities being explored
Where are BP’s refineries in Australia?
At this stage BP’s other Australian refinery—the 138,698-b/d facility at Kwinana, south of Perth, in Western Australia—will remain open. It has the advantage of being the only refinery in the western half of Australia and can count on crude supply from local oil fields.
What happened to BP’s Kwinana Oil Refinery?
In October, BP announced it was closing its Kwinana oil refinery in Perth and converting it into a fuel import terminal. The oil major said the refinery — Australia’s largest — was no longer economically viable.
Is this the last oil refinery in Australia?
Meanwhile, Australian fuel giant Ampol, which owns an oil refinery in Brisbane — one of the last two remaining in Australia (with the other being Viva Energy’s oil refinery in Geelong, Victoria) — is reviewing whether to keep its refinery open or convert it into a fuel import terminal, too. It’s an inexorable decline for the industry.