More fuel coming: regions to benefit first

Additional fuel will flow through Geelong’s refinery under a new deal between Viva Energy and Export Finance Australia (EFA).

Prime Minister Anthony Albanese announced on Thursday that EFA has secured an agreement with Viva Energy and Ampol to bring more fuel into Australia.

Viva Energy’s Geelong refinery is one of two remaining in Australia and supplies close to 30 per cent of fuel used in the country.

Chief executive Scott Qyatt said is team was proud to support the federal government in keeping Australians on the road.

“We understand just how critical fuel is to keep motorists, farmers and businesses moving,” Wyatt said.

“Our dedicated teams have been working tirelessly to keep our customers supplied from our Geelong refinery production as well as sourcing extra cargoes, managing challenging logistics and responding to rapid market developments.

“We are proud to be able to support the Australian government in going above and beyond to secure additional fuel supply and see the country successfully navigate these challenging and uncertain times.”

Albanese confirmed the terms of the agreement allow the federal government to direct where the additional fuel supply will be sent, with regional areas expected to be prioritised.

“This has not business as usual,” Albanese said.

“Importantly, this is additional supply here in Australia that they will be able to source.

“As part of this agreement, of course, the government can direct where that supply goes.”

The announcement comes after it was confirmed an additional two shipments of crude oil had been secured by Viva Energy in March.

The Geelong refinery has also increased diesel output in the past month.

Conflict in the Middle East has impacted fuel supply chains across the country.