Press Conference 20/6/26 9:20 am
PRIME MINISTER: “Today I can announce that Export Finance Australia (EFA) has secured an additional 50 ML of diesel and that this shipment is now headed for Port Botany. That brings since February nearly 800 ML of diesel…”
https://www.instagram.com/reel/DZydXeAzZVA/
The government still cannot number these extra orders as this website is trying in this table and suggested to the Minister in several emails:
Fig 1: Order book for EFA supported (“extra”) fuel orders
While it is understandable that the Government is proud to present this high total sum so that everyone can appreciate these efforts, what we see here is a disregard of principles in procurement and logistics, namely to subtract actual deliveries and track the open order balance.
And this is not just an academic problem. The extra orders can be added to the normal orders which the Energy Minister presented in the same press conference (see Fig 6). That is vital to do a proper trend analysis to identify future supply bottle necks.
The adding of extra and normal orders was done in the previous posts in this website but this makes no sense anymore because e.g. all extra orders from April and now also the 1st half of May should have arrived by now but that should be officially confirmed.
MSO statistics
The reader may want to save the chart below as it will be overwritten on next Saturday and the Minister’s website does not maintain a weekly archive. Many failures here.
Fig 2: Weekly MSO chart
https://www.dcceew.gov.au/energy/security/australias-fuel-security/minimum-stockholding-obligation/statistics
Diesel is the most important fuel so we show the timeline:
Fig 3: Note that around 900 ML are offshore in the EEZ
Fig 4: All fuel stock together
Energy Minister Bowen: “Last week was the highest level of fuel held in Australia since the minimum stock obligation came into force in 2023. This week is the second highest at 6.3 billion litres.” [Fig 4].
https://www.pm.gov.au/media/press-conference-sydney-36
Forward orders
Energy Minister Bowen: “We have 51 ships on the way to Australia [Fig 5], on the water to Australia as we speak, and we have 3.9 billion litres of fuel contracted, locked in, to be delivered over the next four weeks. That’s around 400 million litres more than my report last Saturday. It consists of 1.9 billion litres worth of diesel, 586 million litres worth of petroleum, 423 million litres worth of jet fuel and 948 million litres of crude oil.” [Fig 6]”
Fig 5: 51 ships on the way
Fig 6: The order peak on 9 May stands. On 13 June, only the total fuel volume was given
The jump in crude oil orders of 250 ML is most likely caused by the planned resumption of full production at the Geelong refinery after the fire in April.
PRIME MINISTER: Happy to take questions.
JOURNALIST: The price of a barrel of wholesale oil is still quite significantly more expensive now than what it was pre war. Now, with the end to the tax excise cut looming, motorists might be paying about 35 to 40 cents more. When do you think prices will be back to normal as they were in February?
PRIME MINISTER: Well, there is uncertainty on the global markets and there’s uncertainty because of the decision to reopen the Strait of Hormuz, we welcome the de-escalation, doesn’t mean that it immediately opens. There are sea mines there. There is a great deal of uncertainty about how long it will take before normal trade resumes
https://www.pm.gov.au/media/press-conference-sydney-36
I think it has not dawned on the PM: Hormuz may never come back to normal again. Iran will just export its own oil along the northern safe route. We know from 10 years of experience with the JCPOA how Iran managed to get enrichment up to 60%. They will use similar techniques to harass tanker traffic on the international Hormuz routes. Better get used to it. Prepare to bail out oil dependent infrastructure. You asked for it.
If the Australian government doesn’t understand this, they should just watch Sal Mercogliano’s video
Iran’s new insurance rule: Controlling the Strait of Hormuz
https://www.youtube.com/watch?v=Yy6aDse30_Q
When applying for a passage at the Persian Gulf Strait Authority, ships have to get an insurance for the risks (like mines) the Iranians themselves have created!
Iran imposes mandatory insurance on ships transiting Strait of Hormuz, with fees likely to follow
19 June 2026
Iran’s Persian Gulf Strait Authority is imposing mandatory, Iran‑approved insurance for all ships using the Strait of Hormuz — free for 60 days, but with fees likely afterward
The move challenges a US-Iran agreement guaranteeing toll‑free passage
Iran demands vessels use its preferred northern route, with threats of penalties for non‑compliance
Shipowners, MEG states and IMO warn the policy could destabilise transit norms, while US officials emphasise keeping the strait open as negotiations continue on a long‑term framework
https://www.lloydslist.com/LL1157571/Iran-imposes-mandatory-insurance-on-ships-transiting-Strait-of-Hormuz-with-fees-likely-to-follow
Related post:
Tankers arriving and departing in Sydney
https://crudeoilpeak.info/tankers-arriving-and-departing-in-sydney