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Fire cripples key Australian refinery
Australia's Corio refinery near Geelong, one of only two operating in the country, has lost nearly half its petrol output after a 13-hour fire broke out late Wednesday due to equipment failure.
The facility normally supplies 50 % of Victoria's fuel and 10 % of the national total, leaving the country exposed during a global oil crunch triggered by the Iran war.
Current production levels
Prime Minister Anthony Albanese told reporters on Friday that 80 % of diesel and aviation fuel production continues, but petrol output has fallen to 60 % of capacity.
"We hope, of course, as does the company, that output ramps up over the coming days," he said.
No move to tighter fuel restrictions
Australia is currently at stage two of a four-stage fuel security plan adopted by federal, state, and territory leaders last month.
Albanese ruled out escalating to stage three, which would introduce practical limits on fuel use or rationing, despite warnings that the damage could push up prices and strain reserves.
Government response and imports
The prime minister cut short a Southeast Asian tour aimed at securing oil supplies and visited the refinery on Friday.
Earlier this week he announced an additional 100 million litres of diesel from Brunei and South Korea, highlighting Australia's heavy reliance on imported refined fuels.
"I believe Australia should have more of its own oil refineries," Albanese told reporters.
