Released July 07, 2020 | manila
en
As a self-preservation measure, the Australian government is taking steps to secure its fuel supply, following a dramatic drop in demand for fuel products as a result of the pandemic lockdowns. Initially, the plan is to enhance the country's domestic fuel security and ease pressure on the nation's oil refineries. To achieve this, the government will focus on potential storage projects to examine different volume, location and fuel storage specifications. A clear series of succeeding steps could then be formulated later in the year.
For the local refining sector, Australia will undertake temporary changes to diesel standards so that all refineries can utilize excess jet fuel supplies. This will ease the storage pressures currently being felt by refineries from the drop in demand for fuel products. In addition, they will look at the impact of oil market conditions, fuel security implications, and the interconnection of refineries on other industries and local communities. All these are aimed at enhancing the long-term fuel security of Australia.
Industrial Info is closely monitoring all three Australian refineries, as well as other refineries in the region.
For the local refining sector, Australia will undertake temporary changes to diesel standards so that all refineries can utilize excess jet fuel supplies. This will ease the storage pressures currently being felt by refineries from the drop in demand for fuel products. In addition, they will look at the impact of oil market conditions, fuel security implications, and the interconnection of refineries on other industries and local communities. All these are aimed at enhancing the long-term fuel security of Australia.
Industrial Info is closely monitoring all three Australian refineries, as well as other refineries in the region.
