Australia weighs first refinery in 60 years as Middle East war strains fuel supply

AI Summary

Australia is considering the construction of its first new oil refinery in over 60 years amidst the ongoing Middle East war, which is disrupting fuel supplies. Prime Minister Anthony Albanese said the project aims to enhance the nation's energy security and resilience against future supply shocks.

Australia will consider building its first new oil refinery in more than 60 years, Prime Minister Anthony Albanese said on Tuesday, as war in the Middle East ‌squeezes supplies from overseas and underscores the urgency to improve 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...