News: VEA Australia's Minister For Climate Change And Energy Announces Minimum Stockholding...

Nov 11 (Reuters) - Australia's Minister For Climate Change And Energy:

• SAYS AUSTRALIA'S FUEL RESERVES BOOSTED TO STRENGTHEN RESILIENCE AND SUPPLY
• SAYS GUARANTEED MINIMUM STOCK LEVELS OF TRADITIONAL TRANSPORT FUELS WILL IMPROVE DOMESTIC FUEL RESERVES
• ANNOUNCES MINIMUM STOCKHOLDING OBLIGATION FOR TWO REFINERIES IN GEELONG AND BRISBANE, & AUSTRALIA'S MAJOR IMPORTERS OF REFINED FUELS
• SAYS MSO REQUIRES BASELINE STOCKS OF PETROL 24 DAYS FROM 1 JULY 2023, INCREASING TO 27 DAYS IN 2024 FOR IMPORTERS
• SAYS MSO REQUIRES BASELINE STOCKS OF DIESEL FUEL 20 DAYS FROM 1 JULY 2023, INCREASING TO 32 IN 2024 FOR IMPORTERS
• SAYS MSO REQUIRES BASELINE STOCKS OF JET FUEL 24 DAYS FROM 1 JULY 2023, INCREASING TO 27 DAYS IN 2024 FOR IMPORTERS
• SAYS OBLIGATION WILL ALSO REQUIRE REFINERS AND IMPORTERS TO REPORT STOCK LEVELS FORTNIGHTLY
• SAYS REQUIREMENT OF REPORTING OBLIGATION WILL BECOME WEEKLY FROM 1 JULY 2024
• AUSTRALIA'S MINISTER FOR CLIMATE CHANGE AND ENERGY CHRIS BOWEN SAYS OBLIGATION WAS A CRUCIAL MEASURE TO PROTECT CONSUMERS

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