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The Federal Government has announced investigations into the possible construction of a new oil refinery in Western Australia to secure energy security within the country.
The announcement, made by Prime Minister Anthony Albanese and WA premier Roger Cook, includes plans for a jointly funded $4 million pre-feasibility study for the new large-scale oil refinery.
The project was reportedly proposed and would be constructed by multinational company Perdaman, led by Vikas and Maegha Rambal. The announcement was made by the Prime Minister and Premier while visiting Perdaman’s Project Ceres in Karratha, which will produce around 2.3 million tonnes of urea each year, when fully operational.
“The longer war in the Middle East goes on the greater the impact on Australia will be, and my Government will continue to do everything we can to shield Australia from the worst effects – and set us up for the future,” according to Prime Minister Anthony Albanese.
“My Government’s working to advance Australia’s interests – not just in this crisis but going forward as well to ensure we can meet future challenges.”
The facility could be the first new large-scale petrol refinery built in Australia since the 1960s, and feature under both the Made in WA and Future Made in Australia plans.
The agreement is the first to be signed as part of the Federal Government's $10 million support for feasibility studies into new or expanded fuel refining capabilities, building on work with current refinery operators to retain current refining capability in the decade beyond 2030. Australia currently has two refineries, in Brisbane, Queensland and Geelong, Victoria.
“My government’s steady and experienced leadership has helped make Western Australia’s economy the strongest in the nation,” according to Premier of Western Australia Roger Cook.
“It has allowed us to put WA first and prioritise getting fuel in bowsers during the war in Iran.
“Now, as part of my government’s Made in WA plan, I am proud to join the Albanese Labor Government to support Perdaman’s efforts to rebuild our State’s capacity to produce and distribute its own fuel.
“This includes diesel to support the regional communities which drive WA’s economy and which have been most at risk amid this conflict.
“While many Western Australians remain anxious about our State’s fuel security, we are doing everything it can to address these concerns by working with the Commonwealth to provide steady and experienced leadership and continue delivering our Made in WA plan.”
The study is part of the $15 billion Federal Government package to secure Australia’s fuel security into the future with $7.5 billion for the establishment of a Fuel and Fertiliser Security Facility to increase supply and storage of fuel and fertiliser, $3.2 billion to establish a Government-owned Australian Fuel Security Reserve of around a billion litres focused on diesel and jet fuel, $3.3 billion to reduce the fuel excise and slash the Heavy Vehicle Road User Charge for four months to help with the cost of living, $1 billion in interest free loans through the National Reconstruction Fund’s Economic Resilience Program and a 10-day uplift to the Minimum Stockholding Obligation for petrol, diesel and jet fuel.
“The Cook Labor Government’s nation-leading response to the fuel crisis has shored up supply and kept WA moving,” according to Western Australian Energy Minister Amber-Jade Sanderson.
“A fuel refinery in the west will build further resilience into our energy system, keeping our $90 billion mining industry running and securing our economy against future shocks.
“I’m pleased that the Albanese Government is listening and delivering for Western Australians.”
Robert Dougherty
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