The petroleum industry is broadly split into upstream and downstream petroleum sectors. The upstream sector refers to exploration and production of crude oil while downstream refers to refining of crude oil and the distribution and sale of petroleum products.
In 2011, consumption of petroleum products in Victoria was 10,988 ML. Total throughput at petroleum terminals was 20,727 ML. The DEC of petroleum terminals was $282 million.
The Audit identifies two refineries in Victoria - Mobil Altona Melbourne and Shell Geelong. In 2011, Mobil Altona Melbourne had a throughput of 4,530 ML per year and Shell Geelong had a throughput of 6,380 ML per year.
The Audit projects an increase in throughput of 2.0 per cent per year in Victoria. This equates to throughput of 30,975 ML per year by 2031 - a difference of 10,248 ML per year. This is projected to lead to growth in DEC from $282 million in 2011 to $421 million in 2031 (a 49 per cent rise).