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Australia’s Ampol to delay Lytton refinery turnaround
Australia’s Ampol to delay Lytton refinery turnaround
Sydney, 20 March (Argus) — Australian refiner and marketer Ampol will defer scheduled maintenance at its 109,000 b/d Lytton refinery near the city of Brisbane. The turnaround planned in early June will now take place at the start of August, Ampol said on 20 March. Domestic production during this period of about 300mn litres of gasoline, diesel and jet fuel will occur, Ampol said, acknowledging the US-Iran war is having a significant effect on oil markets. But Lytton processes light sweet crude oil in contrast to Middle East-sourced sour crudes, it said, with suitable crudes remaining available in the market. Ampol operates one of two remaining refineries in Australia after a slew of closures since the late 2000s. It produces or imports about 40pc of Australia's oil products demand, selling 253,000 b/d in 2025, out of total consumption in Australia of 1.079mn b/d . The federal government today announced it would extend its Fuel Security Services Payment subsidy to 2030 while allowing Lytton and the 120,000 b/d Geelong refinery to access state funds at a more generous level, once quarterly refiner margins fall to A$15.90/bl ($11.27/bl). Fuel supply is sufficient until the second half of April when there is more uncertainty regarding shipments, energy minister Chris Bowen said yesterday. Canberra last week made temporary changes to fuel standard regulations, allowing Ampol to sell 80-100mn litres/month of non-compliant, 50ppm sulphur gasoline made at Lytton refinery to be sold domestically, rather than being exported for blending. Austraia's reliance on imported products has led firms to source supply from further afield as Asian refiners face export restrictions . At least three to five Medium Range tankers have been booked to load gasoline and diesel from the USGC in late March to head towards Australia in recent days. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australian fuel supply sufficient until mid-April: MP
Australian fuel supply sufficient until mid-April: MP
Sydney, 20 March (Argus) — Australia will have sufficient fuel supply until March and April, Australian energy minister Chris Bowen said in a press statement on 19 March, but added that "the second half of April is when there is more uncertainty". The Australian government established a national fuel supply taskforce on the same day. Canberra maintains that recent supply issues have been driven by a spike in demand caused by panic buying rather than by constraints in supply chains. The government has not ruled out future fuel rationing but said it has no plans to introduce such measures at this stage. Direct government intervention to procure supply is unlikely. The Australian government allowed the release of up to 762mn litres (4.8mn bl) of gasoline and gasoil from Australia's domestic reserves on 13 March, reducing the MSO levels for each company to which it applies by 20pc. A total of 519mn litres of gasoil and gasoline had so far been released as of 19 March, adding around five days of extra supply of gasoline and six days of gasoil, Bowen said. "We're not doing it to get extra time, we're doing it to get extra supply into the regions," he added. Concerns about supply to regional farming and fishing businesses has dominated headlines about the crisis locally, especially because Australia's busy winter grains cropping season usually begins in April. The government has also taken other measures such as relaxing fuel standards to allow Australian refiner Ampol to sell its gasoline domestically at 50ppm sulphur content, above the national standard of 10ppm for a 60-day period. The relaxation also allows 50ppm gasoil to be imported. Earlier today, the federal government announced it will extend its Fuel Security Services Payment (FSSP) programme, designed to keep its two remaining refineries open, while lowering the bar for the operators to access state subsidies. The scheme will keep Ampol's 109,000 b/d Lytton refinery in Brisbane, Queensland, and Viva Energy's 120,000 b/d Geelong facility operating into the next decade, Bowen said. The FSSP was supposed to run until 2027, but will now be extended to 30 June 2030. Ampol has advised the government it now has the confidence to maintain full production and defer planned maintenance work to increase output while supply chains continue to face strain due to the US-Iran war, Bowen said. There has already been non-government fuel rationing in parts of Australia. The surge in demand on the back of fears of insufficient supply of fuels has led to at least one supplier rationing sales to non-contracted buyers . Some mining companies without contracted supply are already facing issues, market sources said, but this could not be confirmed at the time of writing. Meanwhile, at least 107 fuel stations across the state of New South Wales have run out of diesel , premier Chris Minns said today. Australia had 30, 37 and 29-days' worth of stocks for gasoil, gasoline and jet fuel at the normal rate of consumption, the latest weekly snapshot of fuel supplies as of 10 March shows. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Ras Laffan attack may not affect India’s LNG supply
Ras Laffan attack may not affect India’s LNG supply
Mumbai, 20 March (Argus) — India's long-term LNG supply is unlikely to be affected by the 19 March missile attacks on QatarEnergy's Ras Laffan LNG complex, as supplies to India mainly come from trains 2 and 3 at the facility, traders told Argus . The damaged export capacity is equivalent to 12.8mn t/yr , leaving Ras Laffan with an export capacity of 64.2mn t/yr now from 77mn t/yr earlier. India's LNG supply in the short-term is expected to be tight, while long-term supplies to Italy, Belgium, South Korea and China have been hit. India has a 45pc dependency on LNG supplies coming out of the Ras Laffan complex. India's LNG importers brought in a total of 11.37mn t of LNG from the facility in 2025, out of India's total LNG imports of 24.91mn t, data from market analytics firm Kpler show. State-run Petronet LNG is the biggest importer in India, making up 60pc of Ras Laffan's LNG supply to India, which it then further supplies to other downstream customers. Petronet currently has an 8.5mn t/yr supply agreement with RasGas (former name of QatarEnergy) till 2028. QatarEnergy has a 7.5mn t/yr long-term LNG agreement with Petronet from 2028 till 2048, 700,000t/yr with state-run Gail from 2025 till 2030, and 1mn t/yr with GSPC from 2026 till 2043. Some market participants say the disruption to its LNG exports will likely be prolonged , especially if extensive repairs are required. Others expect the facility to remain shut for at least three months, and deliveries up to June could be impacted. Indian LNG traders expect Petronet, Gail, and other importers to extend their force majeure to downstream customers, further curtailing gas supplies to city gas, fertilizer, and industries that were getting reduced supply since the war broke out. Landed LNG prices to India's west coast have jumped by 34pc since the beginning of this week as the Argus -assessed price for deliveries to west India for second-half April stood at $25.10/mn Btu on 19 March, up by $6.03-6.08/mn Btu from the previous session. "Demand destruction is the only option left with downstream customers currently, apart from buying LNG at a higher price," an India-based LNG trader told Argus , adding that there could be limited options for Petronet to seek replacement cargoes. This is likely to keep India's household cooking fuel supply weak as a shortage in LPG cylinders had prompted domestic city gas firms like Indraprastha Gas (IGL) and Mahanagar Gas (MGL) to announce incentives to encourage consumers to switch to piped natural gas (PNG) after the government mandate entailed them receiving 100pc priority allocation of gas . IGL began offering free gas worth 500 rupees upon taking a PNG connection before 31 March, while MGL announced a waiver of Rs500 registration charge for domestic consumers and a security deposit waiver for commercial users. BPCL has also announced waivers of security deposits for all commercial connections. The government noted around 125,000 new domestic and commercial PNG connections within the span of two weeks this month, a government official said in a media brief this week. This came as the shortage of LPG supply prompted the government to increase the waiting times between LPG cylinder bookings from 21 days to 25 days in urban areas and 45 days in rural areas to better manage supply. India's LNG importers including GSPC, Gail and IOC have already procured prompt LNG supplies for March at $18-21.50/mn Btu range, Argus previously reported. Petronet's 138,000m³ Disha carrying 60,000t of LNG has not been able to transit the strait of Hormuz and has been waiting around the Ras Laffan LNG terminal since 28 February, satellite imagery from Vortexa show. By Rituparna Ghosh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia mulls rise in oil, gas profits tax
Australia mulls rise in oil, gas profits tax
Sydney, 20 March (Argus) — Australia's upstream oil and gas lobby has warned Canberra against raising taxes on the sector, arguing it could lead to worsening supply and higher energy prices if it harms investment. Modelling has likely been commissioned to increase taxation on the gas industry ahead of the May federal budget, as global energy prices soar, a source with knowledge of the matter told Argus . The Petroleum Resource Rent Tax (PRRT) is designed to tax profits produced from offshore fields, which fall under federal jurisdiction. The state onshore producers pay state government royalties as well as federal business taxes. But this would only succeed in stopping investment in new supply, lead to gas shortfalls, higher prices and threaten Australian industries, Australian Energy Producers chief executive Samantha McCulloch said on 20 March. "While international gas prices have surged, Australian gas prices remain relatively low, and the market is well-supplied. We should not take this for granted," McCulloch said. Mild weather has resulted in Australia's gas demand remaining muted in recent weeks, with ample supply available and restocking of gas storages underway. But high international spot LNG prices due to the US-Iran war may eventually impact domestic markets, as replacement cargoes are sought by Asian buyers. The Argus -assessed AWX for month-ahead spot gas deliveries to Wallumbilla and the AVX for month-ahead spot gas to Victoria were both A$11.05/GJ today, both also rising A$0.015/GJ from a week ago — the third consecutive week the AWX has remained flat to the AVX. This compares to the Argus Gladstone fob price — an LNG netback indicator calculated by subtracting freight and costs associated with production from the delivered price of LNG to Asia-Pacific — which was A$31.74/GJ ($23.56/mn Btu) on 19 March, up from A$19.72/GJ a year earlier. Taxation calls The tax review comes three days after the influential Australian Council of Trade Unions, a key funder of the ruling Labor party, called for the PRRT to be replaced with a 25pc levy on revenue from LNG exports. Tax reform is on the government's agenda, federal energy minister Chris Bowen said today, praising treasurer Jim Chalmers for his changes to the PRRT brought in two years ago. But Bowen refused to offer more details, saying he does not comment on cabinet processes. Under those 2024 budget measures, changes to the PRRT cut the percentage of taxes able to be avoided through deductions for spending on project development to 90pc each year. By Tom Major Australia gas prices A$/GJ Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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