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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n The state is rushing approvals for a decades-long lease of prime land near the Port of Brisbane for a global oil giant as part of the government\u2019s plan to create a self-contained Queensland oil industry<\/a>.<\/p>\n Speaking on Sunday, Premier David Crisafulli said the government would promise 35 years of security to BP by renewing the global fuel company\u2019s long-term lease on Bulwer Island, enabling it to begin work on upwards of 10 fuel storage tanks.<\/p>\n \u201cOur negotiations with BP had started earlier this year, before this [fuel] crisis, and we wanted to give them that lease certainty so they could invest here,\u201d Crisafulli said.<\/p>\n \u201cThat will enable them to refurbish five idle fuel storage tanks, and that will increase their capacity here by around 20 per cent \u2013 that\u2019s a big play.\u201d<\/p>\n Related Article The premier said the company also had plans to add another five tanks in the medium term, bringing the total capacity to 140 per cent of the current stores \u2013 or about 103 million litres.<\/p>\n BP country president Paul Auge said it expected to spend $100 million restoring the five existing tanks \u2013 which were decommissioned in 2015<\/a> \u2013 with a view to reopening them by 2029.<\/p>\n \u201cWe\u2019ll start work next year; we\u2019re doing the engineering now,\u201d Auge said.<\/p>\n \u201cObviously, with this news, we will look to accelerate that as much as possible.\u201d<\/p>\n While the company did not have a timeline for the construction of five additional tanks, Auge said the oil giant has \u201coptions already that we can bring to the table to build more tanks\u201d.<\/p>\n \u201cWe\u2019ve done a lot of work around the long-term strategy for these assets,\u201d he said.<\/p>\n The premier said over that same medium- to long-term period, he wanted to open up more drilling and refining operations in Queensland, which he said would boost the state\u2019s \u201csovereign capability\u201d in the fuel space.<\/p>\n \u201cWe got to store, we got to drill, we\u2019ve got to refine, and we\u2019ve got to control our own destiny again,\u201d he said.<\/p>\n \u201cWe don\u2019t want to be at the begging end of a global supply chain, and this is a moment in time \u2013 we can\u2019t miss it.\u201d<\/p>\n Crisafulli said he wanted to see Australia\u2019s 30-day fuel reserves at least doubled by Queensland industry.<\/p>\n Related Article Private investors had already come forward on other recently bolstered fossil fuel projects, he said, including mining opportunities in the Taroom Trough<\/a>, about 300 kilometres north-west of Brisbane.<\/p>\n While on Sunday Crisafulli said the state was delivering security rather than funding, in late April, the government promised $25 million<\/a> to aid the development of renewable diesel at Ampol\u2019s Lytton refinery, sitting across the river from BP\u2019s Bulwer Island.<\/p>\n On Sunday, the premier also reiterated calls for the Albanese government to grant a national interest exemption for oil exploration, under its Environment Protection and Biodiversity Conservation<\/a> Act, for the Taroom Trough project.<\/p>\n Related Article \u201cUntil we have that dead hand of the EPBC removed, the ability to really get cracking in the Taroom Trough will be hindered,\u201d Crisafulli said.<\/p>\n When asked about the upcoming Stafford byelection, the premier refused to comment, but pointed to the government\u2019s recently released ambulance ramping data.<\/p>\n Queensland Primary Industries Minister Dale Last, however, said the byelection would be a referendum on Steven Miles\u2019 leadership of the Labor Party.<\/p>\n Last said if there wasn\u2019t a significant swing to Labor in the seat \u2013 which was held by Labor until former MP Jimmy Sullivan was removed from the party \u2013 the opposition leader was \u201ctoast\u201d.<\/p>\n \u201cThe pressure is back on Steven Miles. It is now up to him to deliver, and if he doesn\u2019t, he\u2019ll be walking a short plank,\u201d Last said.<\/p>\n Labor said voters were not interested in \u201cmud slinging\u201d, as it renewed calls for the state to restore beds it said had been cut at the Prince Charles Hospital.<\/p>\n Start the day with a summary of the day\u2019s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter<\/a>.<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n![\"Premier](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/1f20e3aa7985e6bcf07fe01bd553d2f1508cb3583499800a53a06e6c4016bfa8.jpeg\")
Premier David Crisafulli (right) speaks alongside BP\u2019s Paul Auge at Bulwer Island on Sunday.Catherine Strohfeldt<\/p>\n![\"Ampol\u2019s](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/d444936ccb92b828df0834772a861452603af2dd.jpeg\")
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The 10 tanks would store more than 100 million litres of diesel, gasoline and aviation fuel near the Port of Brisbane.Catherine Strohfeldt<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/6227f9f3b9a2234a8f6bff29e38d20a3fe935d53ac5efa005be2867792a1ccdd.jpeg\")
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