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




Gladstone jobs in limbo as company goes into administration

Gladstone depot - McAleese transport has gone into voluntary administration. Photo Mike Richards / The Observer

Future unknown for Gladstone depot workers

Business closing down: Customer numbers dropped by 70%

Kelly from Mawa Exotics. Photo Mike Richards / The Observer

Another business owner announced she would close her store.

Latest deals and offers

Tom Cruise private jets his gym kit around the world

Tom Cruise

Tom Cruise charters private to take his gym kit around the world

Movie behind Depp and Heard split to be released

Soon you'll be able to see the movie that ended the marriage

Bindi's boyfriend helps release huge croc

Chandler (far right) helped the jump team.

Chandler Powell helps catch Duncan the croc

Mick Jagger to pay £2.5m to the woman carrying his baby

Mick Jagger is reportedly paying millions to pregnant ballerina

Navy man Keller ready to marry a perfect stranger

Former Navy engineer Keller is a participant in season three of Married At First Sight.

Tattoos are just the surface of Married At First Sight groom.

Ozzy cheated with 5 women in 5 countries: Sharon

Sharon Osbourne claims her husband Ozzy has cheated on her

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale

The "correction we had to have" in Gladstone's rentals

UPWARD MARCH: The rental vacancy rate in Gladstone has improved for the first time in more than a year, providing a confidence boost in the market.

Vacancy rates improve with signs that things are getting betterF

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Gladstone landlords in trouble with Bechtel job losses

"If a big project was announced tomorrow I wouldn't want to see it"