Oil Refinery Blaze Set to Hit Australia’s Fuel Production

Australians are waking up to a new potential fuel supply headache, after a major fire broke out at one of the nation’s only two remaining oil refineries. While it’s too early to say just how much of an impact the blaze will have on the nation’s fuel supply, operator Viva Energy’s website says the Geelong refinery supplies more than half of Victoria’s fuel and 10% of Australia’s. The setback comes despite a more positive outlook on the war in Iran, with US stocks closing at record highs on hopes for an extended ceasefire and further peace talks between Washington and Tehran. - Ben Westcott, Asia Agriculture Reporter

A “significant” fire at Viva Energy’s Geelong refinery in southeastern Australia is expected to impact fuel production, Energy Minister Chris Bowen said this morning, with emergency services still working to bring the blaze under control. The plant in the state of Victoria can process 120,000 barrels a day of oil and is one of only two refineries still operating in the country.