Australia to build USD 7.22 billion fuel reserve to "shield" nation from global supply shocks
Published on: May 6, 2026, 11:25 a.m. | Source: The Tribune
Australia is investing USD 7.22 billion to establish a government-owned fuel reserve, ensuring a 50-day supply to 'shield the country from future shocks.' Prime Minister Anthony Albanese emphasised the move aims to protect 'energy sovereignty' amid global supply constraints and maritime instability in the Strait of Hormuz.
