Australia’s two remaining oil refineries will receive $2.3 billion in taxpayer funds to stay open and put downward pressure on fuel costs in the country. It also comes as Australia attempts to shore up its fuel security following the closure of two oil refining facilities and increasing geopolitical instability in the region.
The funds will be distributed to Ampol in Brisbane and Viva Energy in Geelong. Almost $302 million will be spent on upgrading infrastructure and facilities as well.
