Client: Department of Industry & Science, Australian Commonwealth Government

Envisory was engaged by the Department of Resources, Energy and Tourism (now Department of Industry & Science) to provide advice on oil security, examining options for holding stocks of petroleum products and crude oil to assist Australia in meeting its International Energy Agency (IEA) stock holding treaty commitment.

Stock holding models were developed to cover the range of options available for Australia. This included a cost build-up for each of the options, assessment of the security benefit to Australia’s fuel supply and advice on infrastructure requirements. The options also included investigating stock ticketing, the method used by the New Zealand Government to secure petroleum reserves.

This work is on-going as the Australian Government develops its policy options for oil security and stock holding. A number of Envisory reports on this topic have been made public and are available from the Department of Industry and Science website here. The two primary reports for this project are:

Australia’s International Oil Obligation (2012)

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Australia’s International Energy Agency Oil Obligation ‘Main Report’

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There have also been other reports prepared for the Department as part of this project including:

  • Oil Storage Report (2013). A supplementary report to the Main Report.
  • Ticket Market Report (2013). A supplementary report to the Main Report.
  • Stock on the Water Analysis (2013). Assesses the amount of stock in Australia’s and New Zealand’s maritime fuel supply chains, and options for counting this stock as part of each countries’ IEA obligations.
  • Ticket Market Price Update (April 2014).
  • Ticket Market Additional Advice (June 2014). Updates the assumptions used in the 2012 and 2013 reports and examines Australia’s options for ticketing oil stocks.

The supplementary and additional reports can be downloaded from our publications page here.

Envisory Limited provides strategic advice and consultancy services to the energy sector in New Zealand, Australia and the Pacific Islands. Our expertise covers energy security, petroleum fuels procurement and services to the energy sector with a focus on oil and gas.