Australian Prime Minister Anthony Albanese has announced plans for the nation's first new oil refinery since the 1960s, with the federal government committing $4 million towards a pre-feasibility study for the project. Know the news with the 7NEWS app: Download today ArrowIf it proceeds, it would become Australia's third operating oil refinery, joining Ampol's Lytton refinery near Brisbane and Viva Energy's Geelong refinery in Victoria. Supplied Credit: CarExpertIt would be the first new oil refinery since the Lytton refinery opened in 1965. Australia had nine refineries at the turn of this century that met the nation's domestic fuel demand, according to a 2020 parliamentary paper entitled Australian oil refineries and fuel securityby Dr Hunter Laidlaw. The BP Kwinana refinery in Western Australia and the Mobil Altona refinery in Victoria both closed in 2021 and now operate as fuel import and storage terminals.