Prime Minister Anthony Albanese said Tuesday that Australia will consider building its first new oil refinery in more than 60 years, as conflict in the Middle East tightens overseas supplies and highlights the need to strengthen energy security.
Albanese said the project will help build Australia's resilience and sovereign capability on fuel, potentially helping shield the country from future supply shocks.
If the project proves feasible, the new large-scale oil refinery will be built by industrial chemical producer Perdaman in Western Australia, Albanese said.
"The war in the Middle East ... is having an impact here, like it's having an impact right around the world," Albanese told reporters from Karratha in Western Australia's Pilbara region.
"One of the things that building national resilience does is it makes Australia less vulnerable to the impact of events around the world."
