Emergency crews remain on high alert as a catastrophic blaze continues to engulf the Viva Energy (ASX:VEA) refinery in Geelong, one of only two remaining oil processing facilities in Australia.
The fire, which erupted around 11:00 pm local time on April 15 at the Corio plant, was punctuated by multiple explosions that rattled the surrounding community throughout the night.
Fire Rescue Victoria confirmed the inferno is centred within the mobile gasoline unit, and while all staff have been safely accounted for, the incident is not yet under control.
Residents in the Geelong area have been issued an emergency alert to shelter indoors and disable climate control systems as shifting winds push thick smoke towards residential sectors.
The industrial disaster carries economic implications for a nation already grappling with fuel volatility caused by the ongoing conflict in Iran.
Federal Energy Minister Chris Bowen noted that while the fire appears accidental, it has forced a dramatic reduction in production.
"Production of jet fuel and diesel is continuing at reduced levels for safety reasons," Bowen stated, though he warned that an investigation is pending.
The refinery is a critical piece of national infrastructure, supplying over 50% of Victoria’s fuel and 10% of Australia's total requirements.
As the sole domestic manufacturer of aviation fuel, any prolonged outage at the Corio site threatens to disrupt the transport sector and exacerbate surging petrol prices.