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ARTICLE · 30 MARCH 2026

Update: Diesel shortage in Australia: EFA underwriting announced, but contractors are still not "essential users"

Piper Alderman
Piper Alderman
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Piper Alderman

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Recent EFA announcement does not change the risk landscape for major projects. Key takeaways discussed here.

AustraliaGovernment, Public Sector
Martin Lovell
Martin Lovell
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What has been announced?

The Commonwealth has announced that it will amend the Export Finance and Insurance Corporation Act 1991 (Cth) to expand Export Finance Australia's (EFA) powers to underwrite private-sector purchases of fuel, fertiliser and other essentials. EFA will be able to provide insurance, loans and other financial arrangements to de-risk additional cargoes that would otherwise be uneconomic or too risky. The Government says these powers target "additional supply", including to meet uncontracted demand via independent distributors in regional Australia.

Current stock levels

As at 28 March 2026, Australia holds approximately 39 days of petrol (1.6 billion litres), 30 days of diesel (2.7 billion litres), and 30 days of jet fuel (8 million litres). Of the 81 fuel-carrying ships scheduled to arrive in April, six had been cancelled, but these have reportedly been more than replaced by new orders. The Liquid Fuel Emergency Act 1984 (Cth) (LFE Act) has not been activated.

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