Letter from Australia: Downstream rescue package may be wishful thinking
The Canberra government has tried to throw the country’s refineries a financial lifeline in an existential struggle
Australia’s fuel demand has been sent spiralling down by Covid-19’s impact on the economy, with GDP contracting in the second quarter by 7.1pc. One of country’s four remaining refinery operators, Viva Energy, warned in early September that without government help it would likely have to permanently shut operations at its Geelong facility in Victoria. And the mounting pressure on the industry prompted Australian prime minister Scott Morrison to announce a mid-September series of incentives to be rolled out in the 2020-2021 budget. The rescue package aims not only to help the industry survive the current downturn, but also to improve its long-term economic viability. But it is not immediately
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
