Australia has only 1 month worth of diesel imports in stock:
Crude stocks alone are 112 days of net imports. However, oil imported is not of the same type as oil exported (including a high percentage of condensate) so redirected exports pose problems for refineries which will first have to adjust. The AIP report
http://www.aip.com.au/pdf/AIP%20Paper%20-%20Maintaining%20Supply%20Reliability.pdf
says on page 15: “Change crude types together with relaxation of fuel standards (lengthy disruption) 3 month implementation time”
Crude stocks in terms of imports is only 39 days
All data for the above graph and table from:
http://www.ret.gov.au/resources/fuels/aps/Pages/default.aspx
Compare Australian stocks with other IEA members:
http://www.iea.org/netimports.asp
And that’s what the IEA says about Australia:
http://www.iea.org/explanationstocks.asp?country_name=Australia
6/4/2010 Australia needs a Strategic Oil Reserve
http://www.crudeoilpeak.com/?p=1541
