Senate debates

Thursday, 5 March 2015

Questions without Notice

Fuel Security

2:35 pm

Photo of Michael RonaldsonMichael Ronaldson (Victoria, Liberal Party, Minister for Veterans’ Affairs) Share this | Hansard source

I thank Senator Madigan for his question. Just to finish off my last answer: I do note that we will be releasing a National Energy Security Assessment later this year. I understand that data is collected in many forms as part of the government's ongoing monitoring and assessment of Australia's fuel position. I also understand that the Department of Industry and Science collects petroleum industry information on production, refining, sales and the stock of all petroleum from market participants. Aggregated trade data—imports and exports—is currently sourced from Customs via the Australian Bureau of Statistics. The Department of Industry and Science publishes an aggregated subset of this data as the ABS publication on the industry website. The two most common measurements used in Australia are: net input days, which is the total oil stocks in this country divided by the average net imports of the previous calendar year, which is currently 52 days; and consumption data, which is the total oil stocks in the country divided by the former daily demand, which is currently 34 days. (Time expired)

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