Enter the e-mail address you used when you registered an account with IIR Energy.
A message will be sent to the E-Mail Address found in our records containing the associated username(s) as well as instructions for a password reset.
In recent years, the Australian refining sector has suffered from an oversupply of production in Asia due to lower fuel demand growth and increases in regional refining capacity. This was intensified when COVID-19 emerged resulting in an oil glut coupled with a recent price war among the major crude exporting countries. Faced with a daunting future, the four refineries in Australia, namely Altona, Geelong, Kwinana, and Lytton all face significant losses and may even have to consider permanent closure.
Acknowledging the importance of refining in Australia's fuel security as well as its contribution to the economy, the federal government announced on September 14 a stimulus package to enhance the industry's long-term viability, according to Reuters. The package includes incentives worth as much $1.67 billion over 10 years.
|Listen to Today's News||News Audio Library||Sync News Podcasts|
This article is free for all Registered Members.
Register Now! All Fields are Required...
Upgrade your Premium News Subscription to include all archived articles for only $160. Contact Member Services: 800-762-3361
All Members Receive the Following Free Resources: