Media contributions
1Media contributions
Title Are Australia's Low Fuel Reserves Cause for Concern? (Bloomberg) Degree of recognition International Media name/outlet bloomberg.com Media type Web Country/Territory Worldwide Date 29/03/26 Description https://archive.md/Wo3C4#selection-1183.0-2132.0
This Bloomberg explainer examines Australia's exposure to refined fuel disruption following the effective closure of the Strait of Hormuz. It documents the structural decline from meeting roughly 98 per cent of petroleum product needs in 2000 with eight refineries to importing more than 80 per cent by 2025 with two refineries supplying around 17 per cent, leaving Australia with what the Institute for Energy Economics and Financial Analysis describes as the world's largest trade deficit in refined petroleum products. Dr Lurion De Mello, introduced as a fuel security expert, provides the article's forward assessment: that the real test would come in April and into May if the conflict persisted, with shipping data showing deliveries largely secured to mid-April and visibility beyond that point uncertain. The piece explains the Minimum Stockholding Obligation as a privately held requirement rather than a government-controlled reserve on the US model, reports Australian cover at 38 days of petrol and 30 each of diesel and jet fuel on the government's measure and around 49 days on the IEA's, and sets out the ministerial argument that meeting the 90-day obligation would cost approximately A$20 billion over four years. It documents the policy response, including a 20 per cent reduction in stockholding obligations, relaxed sulphur limits, a lowered diesel flashpoint specification, and signals that LNG export leverage might be used to secure supply.Producer/Author Ben Westcott with assistance credited to Keira Wright, Paul-Alain Hunt and Rob Verdonck. URL https://www.bloomberg.com/news/articles/2026-04-13/what-to-know-about-australia-s-fuel-reserves-as-us-announces-hormuz-blockade Persons Lurion De Mello