News

The Albanese Labor Government will introduce a domestic gas reservation scheme that will require gas exporters supply a proportion of their total production to the Australian market – equivalent to 20 per cent of exports, from 1 July 2027 – ensuring Australians have the affordable gas they need.

Good morning. This morning, the National Cabinet has met for another important update on our preparedness for the National Fuel Security Plan. It is important to recognise the fact that the longer that the Strait of Hormuz is essentially shut, even in spite of the ceasefire being in place for four weeks now, the longer this conflict goes, the greater the impact will be. It's as simple as that.

The package will provide $10 billion to secure Australia’s near-term fuel and fertiliser security, establish a permanent government-owned Australian Fuel Security Reserve, and lift the Minimum Stockholding Obligation for every type of fuel.

Australia and Japan have reached an agreement to further strengthen energy security in our region.

Alright, well thanks for coming out this morning. Today is my weekly fuel supply update for the public. And firstly, given that we are now into May, I can tell you that over the course of April we received 92 shiploads of fuel - 92. That’s up substantially, compared to 77 in March and 81 in January.

The Albanese Labor Government has secured two shipments carrying 100 million litres of jet fuel, and another shipment of 50 million litres of diesel to keep Australia moving.

Today, we are pleased to announce Australia and the Republic of Korea have renewed our commitment to work together to maintain a stable, secure and reliable supply of diesel and other liquid fuels.

Thanks for coming out, everyone. I’m giving today’s weekly update on Sunday. For obvious reasons I didn’t do it yesterday. I’m pleased to say that Australia’s fuel stocks continue to be very solid.

The Albanese Labor Government has secured another 100 million litres of diesel for Australia as a result of our efforts to work with industry to keep Australia moving.

Good afternoon. Today, we held a National Cabinet meeting and it was the third that we have had since the conflict in the Middle East began.