In recent years the global oil refining industry has been undergoing significant structural change. Larger, more efficient 'mega-refineries' have been established in Asia, resulting in increased competitive pressures on established refining operations, including those in Australia. As noted above, the Clyde and Kurnell refineries have closed and there are no other refineries in operation in NSW. Australia now has just five major refineries in operation.
In 2013-14, 82 per cent of crude oil and other refinery feedstock was imported.299 New refinery capacity is unlikely to be developed in Australia in the foreseeable future.
___________________________________________________________________________________________________
299. Carson, L. (2014), p. 108