The Economic Times

Fuel crisis deepens as Queensland fast-tracks Singapore-sized Taroom Trough oil reserve; over 100 service stations run dry

Queensland is fast-tracking exploration of a massive oil reserve in the Taroom Trough to address worsening fuel shortages nationwide. Multiple companies are cleared to begin exploration, with a decision on commercial viability expected by the end of 2026. Oil extraction could commence as early as 2028, aiming to stabilize supply for key industries amid global disruptions.