Australian Oil Refinery Aids N.Z. Dollar Economy

Chronicle (Levin), 1 September 1949, Page 4

Australian Oil Refinery Aids N.Z. Dollar Economy

^ Upwards of 15,000,000 gallons of crude oil will be trealed annually at the Vacuum Oil Company's first Australian refinery recently erected at' Altona (Victoria) at a cost exceeding £1,000,000. Principal products from this refinery will be lubricants for industrial purposes, bitumen for road making, distillate dils and petrol. As yet, petrol will not he produced in large quantities, but sufficient lubricating oil will be refined at this plant to supply 50 per- cent. of Australia's requirements in the industrial field, together with large quantities of bitumen. This is of special interest to New Zealand as some of the Dominion's lubricating oil requirements will in future be supplied from this source. Significant .too is the fact that through the Altona refinery's activities, the saving to Australia in dollar exchange will he one and a quarter million dollars annually, while appreciable "dollar savings will " also be effected in respect of oil products entering New Zealand from this new refinery. The refinery has a crude oil storage capacity of 6,000,000 gallons comprising tanks of 2,000,000 gallons capacity. Altogether some 2000 tons of steel plate — all Australian made — went into construction of the refinery's bulk tanks. The entire plant has been designed so that the refinery may be enlarged to meet Australia's growing needs. Expansion might well come in the near future, for Vacuum affiliated companies have for some time been exploring for oil in Australia and drilling in New Guinea. Should oil be struck in either of these countries, the refinery at Altona could, if required, be enlarged to cope with the situation.