News

Gladstone refinery secure as budget keeps oil scheme intact

GLADSTONE'S new oil re-refinery has been saved from potential disaster, with the federal budget continuing to support top refiners through the Product Stewardship for Oil Scheme.

The Observer reported last month that a recent review advising the government to cut a benefit to the highest-grade waste oil refining facilities from 50 cents a litre to 25 cents a litre would put the facility's future viability in jeopardy.

Southern Oil Refining managing director Tim Rose and joint venture partners JJ Richards invested in Yarwun's oil re-refinery, under assurances from the then-government and opposition ministers that a rebate scheme for producers wouldn't change.

Mr Rose said the budget outcome leaving category one benefits as they were was a great relief.

"For the past few months the oil re-refining industry has been working hard to ensure the scheme was not changed to the detriment of re-refiners," he said.

"A recent report to the Federal Government had made recommendations to change the scheme which would be a disaster for true oil re-refining, so we told the government loud and often about our concerns.

"The budget outcome means re-refiners like Southern Oil can continue to recycle lube oil and remove hundreds of thousands of greenhouse gas emissions from the Australian environment every year."

Mr Rose wanted to pay particular thanks to Environment Minister Greg Hunt, Industry Minister Ian Macfarlane, and the Members for Wagga Wagga and Gladstone, Michael McCormack and Ken O'Dowd, for their commitment to ensure the oil re-refining industry was protected.

Topics:  environment, federal budget 2014, oil refinery, recycling



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