IOR, the Federal Government, and Export Finance Australia (EFA) on 15 April 2026 agreed a commercial framework to allow the quick acquisition and distribution of additional fuel cargoes into the Australian market, particularly supporting regional Australia.
Overview
- The framework supports the purchase of additional fuel cargoes in the national interest – it is not support to business-as-usual activity or Minimum Stockholding Obligations (MSO)
- This framework is an initiative to procure more fuel supply for Australia; it reduces the extraordinary market risk and costs associated with unlocking additional fuel in volatile global conditions that would otherwise not be commercially feasible
- The Federal Government is providing support to manage price volatility and working capital, if required, to secure the additional volumes
- As a leading Australian fuel importer and distributor focused on the regions and industries that keep this country moving, IOR will work to deliver fuel directly to where it’s needed
With commercial terms now agreed, IOR can proceed to work with the Federal Government and EFA to secure additional fuel cargoes for Australia.
As a leading Australian fuel importer and distributor focused on the regions and industries that keep this country moving, IOR will use its established import, storage, and distribution infrastructure — particularly across regional Australia — to ensure supported volumes are delivered efficiently to the parts of the country where they are most needed.
Drew Morland, IOR CEO, said:
“We’re proud to be partnering with the Federal Government to procure more fuel supply for Australia, particularly in regional Australia where the pinch was felt first and hardest.
“IOR has worked with the Federal Government to develop a commercial solution to address the current situation and is continuing to work to deploy this additional fuel and IOR’s assets in regions of most need. This will serve as an interim measure to help ease pressure on critical industries and regional communities during a period of global market volatility.
“IOR will continue to engage constructively with all levels of government, and we look forward to remaining an active contributor to Australia’s long-term fuel resilience.
“We sincerely thank the Albanese Government for its willingness to engage with us to bring a practical solution to regional Australia.”
The Federal Government’s package includes support to manage risks associated with price volatility and working capital, if required, recognising the heightened risks IOR will face when securing fuel beyond its contracted volumes and in volatile market conditions.
Importantly, the Federal Government’s support applies only to additional volumes secured on behalf of the Government. It does not extend to IOR’s existing commercial operations.
This framework reflects how the Federal Government and the broader fuel industry are working together in the national interest to address immediate fuel supply risks. IOR will continue to use its 40 years of expertise and capability to boost Australia’s fuel resiliency and help ease this ongoing situation in collaboration with the Federal Government and its peers.
About IOR
IOR, backed by the world’s largest independent infrastructure investor Stonepeak, is an Australian‑founded commercial fuel supplier that has served regional and industrial customers for more than 40 years through its refining, manufacturing, import, and distribution operations.
With 87% of its sales volume taking place outside cities, IOR is a natural partner to government in supporting regional Australia and industry.
IOR delivers more than 1.6 billion litres of fuel annually throughout Australia via its network that includes 116 unmanned 24/7 truck stops across the country and 39 airport refuelling facilities, serving all the major arteries that transport operators use every day. Additionally, IOR operates two major diesel import facilities and 17 depots with ‘load-out’ capabilities in regional areas, which allow local distributors to source product for on-sell to their customers.
IOR serves more than 7,000 active commercial customers in the transport, mining & resources, fuel resellers, agriculture, and regional aviation sectors.
