In brief
The nation’s diesel inventory rose from 31 to 34 days of use while aviation fuel stocks climbed to 29 days, Xinhua reports. Minister Chris Bowen said the supply remains solid and secure despite recent tanker incidents in the Strait of Hormuz. A total of 3.1 billion litres of fuel will arrive in the next four weeks, with 43 ships already en route.
Australia increased its diesel stockpile to the equivalent of 34 days of consumption, up from 31 days the previous week, as climate and energy minister Chris Bowen said on Saturday in Canberra, amid global fuel supply uncertainties, including disruptions in the Strait of Hormuz.
Bowen noted that aviation fuel stocks rose to 29 days, up one day from the prior inventory level.
He said 43 ships carrying fuel were currently on their way to Australia, and 3.1 billion litres of fuel had been secured for delivery over the next four weeks, 100 million litres more than the previous week's update.
Chris Bowen said Australia’s fuel supply remained “solid and secure”.
Australia’s fuel supply remained “solid and secure”.
Bowen said the government was working with domestic refineries and trading partners in Southeast Asia, the Middle East and elsewhere to secure supplies.
He said he had seen reports that four oil tankers had caught fire and exploded in the Strait of Hormuz, underscoring regional uncertainty and difficulties in moving fuel through the strategic waterway.
Source: Xinhua