Australia is considering the construction of its first new oil refinery in more than six decades, a move prompted by escalating supply risks from the ongoing war in the Middle East.
Prime Minister Anthony Albanese announced on Tuesday that the government will commission a feasibility study for a major new facility in Western Australia, aiming to bolster the nation's liquid fuel security.
The decision marks a significant shift in energy policy for a country that has relied heavily on imported refined products in recent years.
The urgency stems from a rapidly deteriorating global supply landscape.
With only two operating refineries remaining nationwide, Australia faces acute exposure to international shipping disruptions and geopolitical shocks.
The conflict in the Middle East has already begun to squeeze overseas supplies, underscoring the strategic vulnerability of the current infrastructure.