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Minister's meeting with oil companies postponed



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MINISTER FOR RESOURCES

DPIE 91/025G

ALAN GRIFFITHS

M I N I S T E R 'S M EETIN G W IT H O i l ยท COM PANIES PO STPO NED

The Minister for Resources, Mr. Alan Griffiths, announced today that the proposed meeting with Chief Executives of the major oil companies would be postponed until a clearer picture of the Gulf oil situation emerged.

The Chairman of the Australian Institute of Petroleum,

Mr. John Schubert, and the head of Shell Australia,

Mr. Kevan Gosper, had called for a meeting, which had been set down for Friday, 18 January.

Advice from earlier meetings of the Government's standing committees, the National Petroleum Advisory Committee and the National Oil Supplies Advisory Committee, had confirmed that the domestic oil situation was comfortable. These meetings comprised

relevant industry and Government representatives.

Senior industry executives today reiterated their support for the Government's assessment of Australia's comfortable oil situation and agreed that no rationing of fuel would be required.

"After these further consultations, plus the latest developments in the G u l f , I felt that a meeting with the oil company Chief

Executives at a later date would be more fruitful," Mr. Griffiths said.

"Australia is well placed to meet any expected disruptions in oil supplies. A continuation of recent demand restraint and

increased production would meet our contribution to the

International Energy Agency's proposed contingency plans without the need for rationing," Mr. Griffiths added.

Further Information :

COMMONWEALTH PARLIAMENTARY LIBRARY Mi CAM

Department Minister's Office John Tysoe 06 272 4492

John Brumby 06 277 7480

Parliament House Canberra ACT 2600

Phone: (06) 2777480 Fax: (06) 2734154