Overview
- Prime Minister Anthony Albanese said the government used new strategic reserve powers to underwrite two diesel shipments totalling about 100 million litres from Brunei and South Korea.
- This purchase, arranged for Viva Energy with Export Finance Australia support, was billed as the first of several expected cargoes to help offset war‑driven supply shocks.
- Australia signed joint energy statements with Brunei and Malaysia that commit to open trade and supply chain resilience, with Brunei assuring no export curbs and talks focused on longer‑term fuel and urea access.
- A fire at Viva’s Geelong refinery has cut petrol output and trimmed diesel and jet production, heightening pressure on supplies as the government works to redirect fuel to priority needs.
- Farm groups warn soaring fertiliser and diesel costs could shrink winter planting, while Australia’s reserves sit near 38 days of petrol versus the IEA’s 90‑day guide after Strait of Hormuz disruptions throttled global flows.