Six fuel ships to Australia cancelled as Bowen says Asian refinery flows slowed

Six oil ships bound for Australia were cancelled in recent days, the energy minister Chris Bowen said, with the vessels from Malaysia, Singapore and South Korea expected to arrive next month. The federal government is working to replace the cancelled or deferred ships, and some have already been substituted, he told ABC TV.

Bowen said "the flow of oil to Asian refineries has slowed, and that has downward impacts on us." Australia receives about 80 shipments of oil each month on average. He said petrol stocks stood at 38 days and diesel and jet fuel at 30 days, and conceded the weeks ahead could be more challenging, with disruptions expected for shipments due in late April and May.

Energy analysts have warned major producers such as Malaysia and South Korea could cut exports to prioritise domestic fuel needs.

Australia

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