PM to visit Brunei, Malaysia in fuel and fertiliser blitz
Anthony Albanese is heading to oil refining heavyweights Brunei and Malaysia as part of a Southeast Asian diplomatic offensive aimed at bolstering Australia’s fuel and fertilizer supplies.
Australia imports about 90 percent of its fuel needs, leaving it at the mercy of foreign refiners weathering the global oil crisis.
Australian farmers also source 60 percent of their urea, the most widely used nitrogen fertilizer, from the Middle East.
These imports were cut off by Iran’s effective blockade of the Strait of Hormuz.
Brunei, a small oil-rich autocracy, supplies nine per cent of Australia’s diesel imports and 11 per cent of urea.
The Prime Minister will seek assurances from Sultan Haji Hassanal Bolkiah that his country will continue to deliver fuel and fertilizer when they meet mid-next week.
Mr Albanese will also seek guarantees from Malaysia, which is Australia’s third largest source of refined fuel and accounts for 10 per cent of urea imports.
“Engaging with critical regional partners such as Brunei Darussalam and Malaysia,
“Ensure Australia’s energy supply remains secure in times of uncertainty,” he said on Sunday.
“We are taking every step to strengthen relationships and engage with key partners.
Our fuel supply is flowing.
“My government continues to take every practical action to protect Australians from terrorism.”
The impact of the war in the Middle East.”
The Malaysian embassy warned last month that the country would prioritize its own fuel needs before looking at external demand, raising concerns the country could limit exports.
These concerns were further fueled days later by the news that some planned shipments had been cancelled.
During his visits, Mr. Albanese exports food and agriculture to Brunei and gas exports to Malaysia.
Australia is responsible for 95 percent of the natural gas Malaysia imports.
The visit came after Mr Albanese received a commitment from Singapore to continue delivering fuel.
However, his Singaporean counterpart Lawrence Wong rejected the commitment “as long as upstream supply continues”.
