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News Wire / economy

Australia Increases Fuel Security Obligations

ABC NewsRadio AU Canberra 16d6d Impact 6

Australia's national fuel stockpile has increased following recent geopolitical conflict. Trade and Investment Minister Don Farrell announced the government has secured 100 million litres of jet fuel and 50 million litres of diesel to boost national reserves. Minister Farrell stated the shipments are intended to ensure continued movement across the nation. Two shipments of approximately 100 million litres of jet fuel are expected alongside a 50 million litre shipment of diesel. The move aims to address uncertainty stemming from the war in the Middle East. The government utilized recently legislated fuel security powers to obtain the supplies. The shipments contain 100 million liters of fuel, according to the report. Australia's Energy Minister Chris Bowen stated that the country possesses more fuel reserves now than prior to the conflict in the Middle East.

Australia's national fuel stockpile has increased following recent geopolitical conflict. Trade and Investment Minister Don Farrell announced the government has secured 100 million litres of jet fuel and 50 million litres of diesel to boost national reserves. Minister Farrell stated the shipments are intended to ensure continued movement across the nation. Two shipments of approximately 100 million litres of jet fuel are expected alongside a 50 million litre shipment of diesel. The move aims to address uncertainty stemming from the war in the Middle East. The government utilized recently legislated fuel security powers to obtain the supplies. The shipments contain 100 million liters of fuel, according to the report. Australia's Energy Minister Chris Bowen stated that the country possesses more fuel reserves now than prior to the conflict in the Middle East. Australian Prime Minister Albanese announced on May 6 that the country will invest over 10 billion Australian dollars to increase domestic fuel reserves and build permanent state-owned kerosene depots. The package includes $3.7 billion for a government-owned reserve to hold diesel and aviation fuel. An additional $7.5 billion will support fuel companies in purchasing and storing more stock. The Australian Airport Association welcomed the plan to manage future supply risks.

Topics

energy fuel reserves supply chain

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Sources · 7 independent

ABC NewsRadio AU

“In reserve there is 44 days of petrol, 33 days of diesel and 30 days of jet fuel in the national stockpile.”

2GB Sydney

“Stengas Taylor has pledged the coalition are going to double the nation's fuel reserves if elected as the Albanese government prepares to announce big storage moves in the May budget.”

COPE

“En España estamos hablando alrededor de 180 días, y hay que hablar de los tres meses que tenemos de margen.”

2GB Sydney

“Prime Minister Anthony the Albanese says it will help you pushing to double Australia's strategic fuel reserves to 60 days as part of an $800 million plan.”

RTHK Radio 3 HK

“it looks like Australia and UK are reaching critically low reserves of oil which suggests they will likely need to start rationing soon.”

ABC NewsRadio AU

“Australia is very worried about its fuel security, particularly because Asia be reliable. And I think that's understood and certainly after my meetings here in Japan, we know we need each other.”

2GB Sydney

“The coalition wants to boost the minimum stock obligation to 60 days as part of an $800 million plan. claims the move will see an additional one billion litres of petrol and diesel stored”

ABC NewsRadio AU

“The federal government says it secured three additional shipments of jet fuel and diesel amid the ongoing fuel crisis.”

2GB Sydney

“The federal government has announced two shipments carrying 100 million litres of jet fuel and a third shipment with 50 million litres of diesel are now on their way to Australia.”

ABC NewsRadio AU

“Trade and Investment Minister Don Farrar. says the government is continuing to boost fuel reserves. It secured 100 million litres of jet fuel and 50 million litres of diesel.”

ABC NewsRadio AU

“The government is continuing to boost fuel reserves. It secured 100 million litres of jet fuel and 50 million litres of diesel. Trade and investment minister Don Farrell says the nation has about 45 days' worth of petrol, 30 days of diesel and 30 days of jet fuel.”

ABC NewsRadio AU

“the federal government here in Australia that they've confirmed additional shipments of jet fuel and diesel are on the way and that's using recently legislated new fuel security powers.”

ABC NewsRadio AU

“The federal government has announced it secured additional jet fuel and diesel for Australia using recently legislated fuel security powers to shipments containing 100 million...”

ABC NewsRadio AU

“Energy Minister Chris Bowen says Australia has more fuel in the country today than before the conflict in the Middle East.”

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