Australia’s fuel security is becoming an increasingly imminent challenge for the country as another refinery closes in Melbourne. With the country’s already high import bill climbing, experts are beginning to question the future of Australian fuel. ExxonMobil has taken the decision to close its 80,000 bpd refinery in Melbourne , leaving the country with just two plants to meet its fuel needs. The plant will be transformed into a fuel import terminal. This follows BP’s decision to close its 146,000 bpd Kwinana plant in October 2020. Concerns have also been raised over the viability of Australian energy company Ampol’s Brisbane refinery. Canberra has offered A$2.3 billion in funding to keep the plant running, but no final decision has been made. A decrease in oil demand and the growth in oil imports from the Middle East and Asia have reduced the number of refineries in Australia from seven to just […]