Australia Procures Additional 570,000 Barrels of Diesel to Cope with Middle East Crisis
Australia has announced the procurement of an additional 570,000 barrels of diesel fuel from Brunei and South Korea in response to the escalating Middle East situation. This procurement marks the first transaction under the country's strategic reserve authority. Currently, Australia's oil reserves are sufficient for approximately 38 days, significantly below the International Energy Agency's minimum standard of 90 days.
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- 📰 Published: April 16, 2026 at 19:58
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Kuala Lumpur, April 16 (AFP) -- Australia is bolstering its oil stockpile, impacted by the Middle East conflict, with Prime Minister Anthony Albanese announcing today that an additional 570,000 barrels of diesel have been secured from Brunei and South Korea. Australia also reached an agreement with Malaysia today to ensure a stable supply of essential energy. The Middle East crisis is affecting global crude oil supplies, with transportation through the crucial Strait of Hormuz remaining obstructed.
Speaking at a press conference in Malaysia, Albanese stated, "I can announce that my government has secured two shipments, totaling 100 million liters of additional diesel fuel, one from Brunei, which I visited yesterday, and one from South Korea." This procurement is equivalent to 570,000 barrels of diesel.
Albanese met with Malaysian Prime Minister Anwar Ibrahim during his visit to Malaysia, aiming to deepen energy cooperation. He noted, "This is the first of many anticipated shipments that the government has negotiated under its new strategic reserve powers."
Meanwhile, a fire at a key refinery southwest of Melbourne overnight could further disrupt Australia's fuel supply.
According to Australian government data, current domestic oil reserves can cover about 38 days, falling far short of the 90-day minimum standard set by the International Energy Agency.
Malaysia is Australia's largest crude oil supplier and its third-largest source of refined petroleum products, providing approximately 14% of Australia's diesel, 10% of gasoline, and 11% of aviation fuel. Malaysia, in turn, relies heavily on imports of liquefied natural gas from Australia, with Canberra stating that about 95% of Malaysia's natural gas needs are met by Australia. (Compiled by Ho Hung-ju) 1150416
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Speaking at a press conference in Malaysia, Albanese stated, "I can announce that my government has secured two shipments, totaling 100 million liters of additional diesel fuel, one from Brunei, which I visited yesterday, and one from South Korea." This procurement is equivalent to 570,000 barrels of diesel.
Albanese met with Malaysian Prime Minister Anwar Ibrahim during his visit to Malaysia, aiming to deepen energy cooperation. He noted, "This is the first of many anticipated shipments that the government has negotiated under its new strategic reserve powers."
Meanwhile, a fire at a key refinery southwest of Melbourne overnight could further disrupt Australia's fuel supply.
According to Australian government data, current domestic oil reserves can cover about 38 days, falling far short of the 90-day minimum standard set by the International Energy Agency.
Malaysia is Australia's largest crude oil supplier and its third-largest source of refined petroleum products, providing approximately 14% of Australia's diesel, 10% of gasoline, and 11% of aviation fuel. Malaysia, in turn, relies heavily on imports of liquefied natural gas from Australia, with Canberra stating that about 95% of Malaysia's natural gas needs are met by Australia. (Compiled by Ho Hung-ju) 1150416
Standing with the facts, your sponsorship is the power to protect press freedom.
Download CNA's "One-Stop News" APP for real-time updates.
No unauthorized reproduction, public broadcast, public transmission, or utilization of the text, images, or audio-visual content on this website is permitted.