New posts

Reply to thread

Message

Lack of refining and geography is one.

Properties of the oil versus product demand is the other.

~85% of the Australian oil production is in WA, SA, NT whereas the two remaining refineries are in Qld and Vic, both of which have not zero but certainly quite minor oil production these days.

Second issue is that a large portion of Australian petroleum consumption is diesel, fuel oil, lubricants or bitumen all of which are medium to heavy refinery products, whereas what we produce from the ground is primarily light crude oil, condensate and LPG. So a mismatch there.

So in economic terms, oil is primarily an import from Australia's perspective despite the fact that we export most of the crude, condensate and LPG we take out of the ground. The volume and value of imports is far higher.

For a few facts and figures:

Australian crude and condensate production in 2022 = 18,047 ML

Australian LPG production = 5528 ML

Australian refinery production = 14,878 ML using 27% Australian feedstock

Australian sales of refined products = 57,174 ML

Diesel = 31,427 ML
Petrol = 15,973 ML
Aviation turbine fuel = 6227 ML
LPG = 1558 ML
Fuel oil = 841 ML
Lubricants = 301 ML
Aviation gasoline = 66 ML
Other products = 781 ML

Above figures derived from Australian Government statistics.

<blockquote data-quote="Smurf1976" data-source="post: 1225415" data-attributes="member: 676">Lack of refining and geography is one.Properties of the oil versus product demand is the other.~85% of the Australian oil production is in WA, SA, NT whereas the two remaining refineries are in Qld and Vic, both of which have not zero but certainly quite minor oil production these days.Second issue is that a large portion of Australian petroleum consumption is diesel, fuel oil, lubricants or bitumen all of which are medium to heavy refinery products, whereas what we produce from the ground is primarily light crude oil, condensate and LPG. So a mismatch there.So in economic terms, oil is primarily an import from Australia&#039;s perspective despite the fact that we export most of the crude, condensate and LPG we take out of the ground. The volume and value of imports is far higher.For a few facts and figures:Australian crude and condensate production in 2022 = 18,047 MLAustralian LPG production = 5528 MLAustralian refinery production = 14,878 ML using 27% Australian feedstockAustralian sales of refined products = 57,174 MLDiesel = 31,427 MLPetrol = 15,973 MLAviation turbine fuel = 6227 MLLPG = 1558 MLFuel oil = 841 MLLubricants = 301 MLAviation gasoline = 66 MLOther products = 781 MLAbove figures derived from Australian Government statistics.</blockquote>

[QUOTE="Smurf1976, post: 1225415, member: 676"] Lack of refining and geography is one. Properties of the oil versus product demand is the other. ~85% of the Australian oil production is in WA, SA, NT whereas the two remaining refineries are in Qld and Vic, both of which have not zero but certainly quite minor oil production these days. Second issue is that a large portion of Australian petroleum consumption is diesel, fuel oil, lubricants or bitumen all of which are medium to heavy refinery products, whereas what we produce from the ground is primarily light crude oil, condensate and LPG. So a mismatch there. So in economic terms, oil is primarily an import from Australia's perspective despite the fact that we export most of the crude, condensate and LPG we take out of the ground. The volume and value of imports is far higher. For a few facts and figures: Australian crude and condensate production in 2022 = 18,047 ML Australian LPG production = 5528 ML Australian refinery production = 14,878 ML using 27% Australian feedstock Australian sales of refined products = 57,174 ML Diesel = 31,427 ML Petrol = 15,973 ML Aviation turbine fuel = 6227 ML LPG = 1558 ML Fuel oil = 841 ML Lubricants = 301 ML Aviation gasoline = 66 ML Other products = 781 ML Above figures derived from Australian Government statistics. [/QUOTE]

Verification