Australian, Western Australian Governments Launch AU$4 Million Pre-feasibility Study for Building New Oil Refinery
MT Newswires Live
Jul 28
The governments of Australia and Western Australia will conduct a jointly funded AU$4 million pre-feasibility study for a new large-scale oil refinery in the state, to be built by Perdaman, according to a Tuesday statement.
The proposed refinery is expected to create thousands of jobs, boost the local economy, and help secure diesel for regional communities in Western Australia.
This is the first agreement to be signed as part of the Australian government's AU$10 million support for feasibility studies into furthering fuel refining capabilities, as it seeks to retain current refining capability in the decade beyond 2030, per the statement.
Australia currently has two oil refineries: in Brisbane, Queensland and in Geelong, Victoria.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.