Viva Energy has procured two shipments totaling around 100 million liters of diesel from Brunei and South Korea by partnering with Export Finance Australia under the country's new Strategic Reserve bill, according to a news release by the Ministry for Climate Change and Energy on Thursday.
The bill, which was enacted on April 1, grants EFA the authority to underwrite purchases of fuel imports, thus allowing the government to aid Australian importers in their procurements at a time of surging fuel prices.
It was not stated how much funding was provided by EFA for these purchases and when the volumes will be delivered.
The vessel Tabit was loaded with 38,400 metric tons of diesel at Muara port, Brunei, on April 13 and is expected to reach West Australia on April 21, according to data provider Vortexa. However, it could not be determined if this cargo is one of the two cargoes imported by Viva Energy.
EFA will also partner other Australian oil firms, such as Ampol, Park Fuels and IOR, for their procurements.
"These cargoes are additional to existing contracted supply, are required to remain in Australia and will be directed to the industries and regions which need them the most," said Minister for Climate Change and Energy Chris Bowen.
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--Reporting by Kite Chong, kchong@opisnet.com; Editing by Mei-Hwen Wong, mwong@opisnet.com
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April 16, 2026 05:47 ET (09:47 GMT)
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