Given the increase in Middle East tensions after the assassination of Ismail Haniyeh on 31 July 2024 in Tehran, it is time to look at Australian oil vulnerabilities
Diesel consumption increased 3.5% pa over 14 years
Fig 1: Diesel sales increased over 14 years from 1,900 ML to 2,800 ML per month
The 19% increase in imports will not continue but rather trend towards the growth in consumption.
Diesel imports grew faster than consumption because Australian refineries shut down over time, one after the other, without governments – not to mention the public – being overly concerned. There is a big oil strategic difference between
• importing crude from a variety of sources and refining it in Australia
• and importing fuels mainly from Asia
13/4/2011 Australia’s fuel import vulnerability increases as Sydney’s Clyde refinery is closing
http://crudeoilpeak.info/australias-fuel-import-vulnerability-increases-as-sydneys-clyde-refinery-is-closing
9/4/2014 Why the closure of BP’s Brisbane Bulwer refinery reduces Australia’s energy security
http://crudeoilpeak.info/why-the-closure-of-bps-brisbane-bulwer-refinery-reduces-australias-energy-security
17/10/2014 Sydney’s Caltex refinery closed as Chevron’s crude production and sales continue to decline
http://crudeoilpeak.info/sydneys-caltex-refinery-closed-as-chevrons-crude-production-and-sales-continue-to-decline
14/11/2020 Australia’s BP Kwinana refinery closure: peak oil context
https://crudeoilpeak.info/australias-bp-kwinana-refinery-closure-peak-oil-context
15/2/2021 Exxon-Mobil’s refinery closure in Australia: peak oil context
https://crudeoilpeak.info/exxon-mobils-refinery-closure-in-australia-peak-oil-context
Fig 2: Diesel consumption by State
Fig 3: Diesel consumption in NSW growing at 4.9% pa
Fig 4: Australian Diesel imports by country of origin
Fig 5: Share of diesel imports from different countries
Fig 6: Diesel imports by value in A$
Fig 7: Diesel imports from 3 selected countries
The refinery in Brunei is owned by Hengyi https://www.hengyi-industries.com/about-us/
Fig 8: Diesel imports from South Korea
Fig 9: Diesel consumption cover in days
