Most of Australia's domestic oil refineries were built during the 1950s and 1960s, but high operating costs and the emergence of large refineries across Asia forced many to shut down over the past three decades.
An aerial photo taken on April 4, 2026, shows the Geelong Oil Refinery, one of two oil refineries remaining in Australia. The refinery can process up to 120,000 barrels of oil per day, manufacturing petrol, diesel, LPG, jet fuel and avgas. (AFP/William West)
Australia said on Tuesday it would consider building its first new oil refinery in more than 60 years, as war in the Middle East squeezes supplies from overseas and underscores the urgency to improve energy security.The federal government and the Western Australia state government will jointly spend A$4 million (US$2.8 million) on a feasibility study for the refinery, a government statement said.
Australia depends on imports for about 80 percent of its fuel needs and has been racing to secure supplies amid the Iran war.
Most of Australia's domestic oil refineries were built during the 1950s and 1960s, but high operating costs and the emergence of large refineries across Asia forced many to shut down over the past three decades.
