FUEL REFINERIES GET A $2BILLION LIFE EXTENSION

Just googling "oil reserves Australia" does show we do have oil reserves - on current estimates about 3 years worth on current usage of petroleum products - however it would seem that it is simply cheaper to import and keep our reserves for a rainy day.

The links I saw also indicates we have massive oil shale reserves that could be brought online with investment - noting that the US had all but exhausted it crude oil reserves and was a massive importer but with the help of shale oil is now a net exporter.

So as far as traditional crude oil reserves go we do not have much but we do have some just not cost effective to recover it at the moment.

Back in 1985 or so, I was talking to the President of Saudi ARAMCO ( the biggest oil producer in the World).

He made a point of saying that the Rundle oil shale project in Queensland was a fantastic
reserve of oil, on a par with the tar sands in Canada.

Nothing has been done with Rundle so it is still there waiting for its day in the sun.

There is plenty of conventional and unconventional oil in Australia. It is just that the "greenie" State Governments will not allow it to be developed.

Maybe that is why the Victorians think there is no oil although there are apparently good prospects in Gippsland.

If there is no oil, I don't know what the pipeline from Tara Western Queensland to Brisbane is carrying and what those "nodding Donkeys" at Santos and in the Kimberley are pumping.

Regards PhilipA

Quote:

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Originally Posted by Homestar

We don't have any crude left in Aus. Currently importing 100% of our fuel crude...

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hogwash. we have about 4,000,000,000 barrel of crude. about one tenth of american reserves.
its political reasons we dont extract it and have cheap fuel.

Quote:

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Originally Posted by Eevo

hogwash. we have about 4,000,000,000 barrel of crude. about one tenth of american reserves.
its political reasons we dont extract it and have cheap fuel.

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Careful, Eevo, or it will be off to Camp Angst with you![biggrin]

Quote:

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Originally Posted by Homestar

Where’s the crude in this country? I work at both Refineries here in Melbourne and there’s none anywhere here and the Engineers who make the stuff say there’s no crude in Aus to make fuel from (one of them said there’s basically zero crude at all left in Aus for anything - we’ve used it all) so I still don’t see why we need to keep the refineries open when they aren’t making any fuel.

Happy to see sources that counter this but from my work at them and who I talk to (the people that make the stuff) there isn’t any in Aus.

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The twin (or triple, can't remember) pipelines from Longford (Bass Strait hub) to the Melb refineries were renewed in the last 10 years.

One was oil, other was lpg, can't remember what the third was.

The Corio refinery is connected to the Melb refineries by pipeline.

Met the guy overseeing the eco field work just before the renewal was done.

DL

Quote:

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Originally Posted by PhilipA

Back in 1985 or so, I was talking to the President of Saudi ARAMCO ( the biggest oil producer in the World).

He made a point of saying that the Rundle oil shale project in Queensland was a fantastic
reserve of oil, on a par with the tar sands in Canada.

Nothing has been done with Rundle so it is still there waiting for its day in the sun.

There is plenty of conventional and unconventional oil in Australia. It is just that the "greenie" State Governments will not allow it to be developed.

Maybe that is why the Victorians think there is no oil although there are apparently good prospects in Gippsland.

If there is no oil, I don't know what the pipeline from Tara Western Queensland to Brisbane is carrying and what those "nodding Donkeys" at Santos and in the Kimberley are pumping.

Regards PhilipA

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I agree there is plenty of oil in the ground but the imports of refined product is simply an economic decision, especially considering economies of scale as in the Singapore refineries.

cheers, DL

Quote:

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Originally Posted by ramblingboy42

When I was working out in the SW Qld Gasfields, I was told that after extensive tests with multiple filters and gradually reducing the filters , the whole vehicle fleet based in Jackson and Ballera were running on straight light crude , true distillate , unrefined with no apparent problem or concern from Toyota and other manufacturers.

I don't know if Neill Mansell ran it any of his trucks though.

I don't know if any of you have first hand knowledge of Australia's oil reserves , but we actually have plenty in the ground , much of it capped.

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Caterpillar said they would warrant their engines, running on raw Cooper Basin crude, it only needed proper filtration.

Quote:

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Originally Posted by 350RRC

The twin (or triple, can't remember) pipelines from Longford (Bass Strait hub) to the Melb refineries were renewed in the last 10 years.

One was oil, other was lpg, can't remember what the third was.

The Corio refinery is connected to the Melb refineries by pipeline.

Met the guy overseeing the eco field work just before the renewal was done.

DL

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Bass Straight is out of oil - it’s only gas that’s left - and not much of that either. All but 3 of the rigs are in hibernation currently with only gas passing through them and not doing anything else.

Quote:

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Originally Posted by Homestar

Bass Straight is out of oil - it’s only gas that’s left - and not much of that either. All but 3 of the rigs are in hibernation currently with only gas passing through them and not doing anything else.

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Well maybe the three pipelines have gas going through each. Dunno.

If so, the dig warning signs every few hundred metres along the corridor to Melby are wrong.

This is after the renewal of the pipes.

cheers, DL

Didn't some one buy or arrange us sharing huge storage capacity with the US? Note it might be Winnie in Texas,only about 8000 kilometers from OZ" might have a bit of our storage [bigwhistle]

The odd bit is we are up sheep creek unless we get a lot less dependent on oil. The 2 billion given away is about politics not smart where several other option would give us real current and future energy security.

On the oil topic. I hope Texas play has better cyber security?? "CEO of Colonial Pipeline has admitted his company paid hackers nearly $4.5m last week after their attack forced the firm to stop transporting fuel." Bet that was LandyCoin crypto NOT[biggrin] I also assume every half assed pimply programmer kid and North Korea hacker+ will love a bit of hack attack on oil storage there and every where for a bit of that easy money.[bighmmm][bighmmm][bighmmm]

Edit- I am slow- its already happened "Since last August, the hackers responsible, DarkSide, have made at least $90m in ransom payments from about 47 victims, Bitcoin records show." Link

That's what we know has been paid I assume a lot more has been paid