The Queensland government is currently engaged in negotiations with developers regarding the potential establishment of a new oil refinery in Gladstone. Resilient Energy Australia has proposed a significant investment of $11 billion aimed at constructing a refinery that will primarily focus on diesel production.
To enhance investor confidence, the company has indicated its intention to pursue federal funding. Amidst an ongoing fuel crisis affecting the nation, Premier David Crisafulli announced in Brisbane that multiple locations within the Gladstone area are being considered, with several companies expressing interest in the project.
During a visit to a service station, Premier Crisafulli emphasized that the proposed refinery would play a crucial role in ensuring the state’s fuel security in the long run. However, he did not provide a timeline for when the refinery might begin operations. “This is a tremendous opportunity for both our state and our country, and I am committed to ensuring we seize it,” he remarked.
Currently, Australia operates only two refineries, and this initiative follows a recent incident involving a fire at the Viva Energy refinery in Victoria.
Chairman of Resilient Energy Australia, David Goodwin, outlined the ambitious plan for the Gladstone refinery, which aims to process 210,000 barrels of oil daily. He stated that the facility is expected to produce 60 to 70 percent diesel, alongside other products such as aviation gasoline, kerosene, and jet fuel. Additionally, he noted that sulphuric acid, a by-product of the refining process, would be utilized in the production of bitumen, fertilizers, and explosives. “Every part of that barrel will be efficiently utilized,” he added.
Goodwin also mentioned that the company will seek federal support through initiatives like the Northern Australia Infrastructure Facility to attract international investors. He pointed out that the Gladstone port is well-equipped to accommodate large crude oil tankers, and the project has already secured 400 hectares of land within the state development area.
Mayor Matt Burnett of the Gladstone Regional Council expressed his support for the state government’s announcement, highlighting his collaboration with Resilient Energy Australia over the past five years on this initiative. He emphasized that the project will not only create jobs but also play a vital role in ensuring a stable supply of diesel and fuel for the nation. Mayor Burnett estimated that the construction of the facility could take up to four years to complete.
