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 Queensland was 12,241 ML. Total throughput at petroleum terminals was 21,211 ML. The DEC of petroleum terminals was $288 million.
The Audit identifies two refineries in Brisbane - the Caltex refinery at Lytton, and the BP facility at Bulwer Island. In 2011, Caltex's Lytton refinery had a throughput of 5,110 ML per year and BP's Bulwer Island facility had a throughput of 6,270 ML per year. The BP refinery at Bulwer Island is currently scheduled to close in 2015.
The Audit projects an increase in throughput of 2.6 per cent per year in Queensland. This equates to throughput of 35,156 ML per year by 2031 - an increase of 13,945 ML per year. This is projected to result in growth in DEC of $190 million (66 per cent) to $478 million in 2031.