Fuel Supply Chain In Oceania

 Oceania is dominated by Australia's fuel supply, which is understandable as it is the most important fuel market in the Oceania region. In 2017 alone, this maritime country exported approximately 7 billion cubic meters of gas per day. As a result, Australia maintains its role as a major supplier of global energy needs, especially in the Asia-Pacific region.

It accounts for about 60 per cent of Australia's total production, with 46 per cent exported to Japan and 31 per cent to China. Between 2016 and 2017, natural gas is the third largest source of energy production, accounting for 23.1% of total energy production, behind only coal and renewable sources.

Other oil and natural gas liquids accounted for 3.3% and liquefied petroleum gas for 0.5%, according to a 2018 report from the Australian Department of Environment and Energy.

Natural Gas Production

In 2018, natural gas accounted for 84% of Oceania's total hydrocarbon production in terms of BOE (equivalent barrel of oil). Every fuel trader in Oceania knows that most of it comes from Australia. Foreign production accounts for about two-thirds of Australia's gas supply. The latter is projected to represent about 85% of the region's natural gas between 2019 and 2025.

Stepping out of Australia, Papua New Guinea is another emerging player in the industry. Although the country is much smaller than Australia, its fuel production is expected to double by 2025. Most of Papua Guinea's gas is exported, with its LNG export capacity projected to increase exponentially. However, companies will be required to save about 10% of gas production for domestic use.

World Waves

Although Australia does not need to import petrol or crude oil from Russia for its fuel needs, the global oil market acts as a huge pool. Therefore, changes in market conditions in one area rapidly affect other geographical areas. More than half of Russia's oil and natural gas exports go to other European countries.

Russia's recent invasion of Ukraine has led experts to worry about further shortages and rising prices. Currently, fuel prices have risen significantly since the charge, which occurred in the first quarter of 2022.

Fuel Reserves In Australia

Fuel is stored in large quantities in Australia, where companies in the industry operate large quantities of fuel in addition to operating import terminals. Fuel is neither processed nor converted during storage.

Take It

This segment covers various aspects of the fuel industry in Oceania, including forecasts and data on recent production parameters. Oceania's fuel industry is projected to grow significantly in the coming years. It remains to be seen to what extent Oceania's fuel industry will expand.