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Australian PM to Make Three-Day Official Visit to Singapore
- Prime Minister Anthony Albanese is traveling to Singapore for a two-day visit to secure additional fuel shipments and shore up Australia's fuel stockpile amid Middle East tensions. On Tuesday, Albanese said the trip would be an 'important progression' as Asian trading relationships 'paid dividends at difficult times.'
- Iran and the United States agreed to a last-minute ceasefire on Wednesday, sending Brent oil plunging 15 per cent to below $US91. Yet regular unleaded petrol remains above $2.50 per litre after surging more than 30 per cent since Iran blockaded the Strait of Hormuz, which carries 20 per cent of global oil supplies.
- Singapore supplies 55 per cent of Australia's petrol and 26 per cent of its refined fuel stockpile as Asia's largest oil trading hub. Australia reciprocates by providing 32 per cent of Singapore's liquefied natural gas and powering about 40 per cent of the city's electric grid.
- The federal government opened $2 billion in emergency finance to Ampol and Viva Energy, enabling Australia's largest fuel suppliers to purchase expensive spot market cargoes. Energy Minister Chris Bowen said Thursday that fuel supply is now guaranteed several weeks into May.
- Earlier this week, Albanese spoke with Chinese Premier Li Qiang and Sultan of Brunei Haji Hassanal Bolkiah about energy security, while Australia secured assurances last week from Japan, South Korea and Singapore on continued supplies. Foreign Minister Penny Wong cautioned that price relief 'may take some time' despite the ceasefire.
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Anthony Albanese heads to Singapore to shore up fuel supply
The federal government is extending the deployment of an RAAF Wedgetail surveillance aircraft to the Middle East. SBS reporter Naveen Razik is in Singapore for the Prime Minister's visit, where the topic of fuel supply will be high on the agenda.
·Sydney, Australia
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Coverage Details
Total News Sources19
Leaning Left5Leaning Right6Center3Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 36%
C 21%
R 43%
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