AAP General News (Australia)
08-21-2004
Fed: Gov't reviews security of Australian oil supplies
The federal government is reportedly preparing a new energy security plan to protect
Australia from a major disruption to oil imports as crude oil hits record prices.
The Weekend Australian says crude oil or refined petroleum stockpiles may be created
as part of the plan.
Australia imports 40 per cent of is oil supply.
With international crude oil hitting a record prices approaching $US50 a barrel, average
unleaded petrol prices are expected to reach $1.10 a litre in Australia next week.
The paper says federal Industry and Resources Minister IAN MACFARLANE has ordered a
review into the Liquid Fuel Emergency Act to ensure Australia can handle any possible
disruption to supplies of crude oil and petroleum from overseas.
AAP RTV ka/wz
KEYWORD: OIL (SYDNEY)
2004 AAP Information Services Pty Limited (AAP) or its Licensors.
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