Oil Refinery (Kwinana) Agreement Act 1952
The Oil Refinery (Kwinana) Agreement Act 1952: A Brief Overview
The Oil Refinery (Kwinana) Agreement Act 1952 is a significant piece of legislation that was passed in Western Australia. The Act is a legal agreement that was made between the Western Australian government and the oil refining company, BP Australia. It outlines the terms and conditions governing the construction and operation of a major oil refinery in Kwinana, which is located about 30 kilometers south of Perth.
The Act was passed at a time when there was a need for a secure and reliable supply of petroleum products in Australia. The refinery was expected to play a critical role in meeting this demand, and as such, the government and BP Australia entered into an agreement that would ensure the successful completion and operation of the refinery.
The main objective of the Act was to set out the regulatory framework for the construction and operation of the oil refinery. It covered a range of issues, including land acquisition, environmental protection, taxation, and employment. The Act also set out the obligations of BP Australia, including the requirement to build and operate the refinery in line with best practices and industry standards.
One of the key features of the Act was the creation of a special leasehold estate for the refinery. This allowed BP Australia to lease the land from the government for a period of 60 years. The leasehold estate was subject to certain conditions, including the requirement to pay rent and to comply with all relevant laws and regulations.
The Act also provided for the establishment of a refinery development fund. This fund was set up to finance the construction of the refinery and to cover any other costs associated with its operation. The fund was financed through the sale of government bonds and was repaid through the revenue generated by the refinery.
Another important aspect of the Act was the requirement for BP Australia to employ a minimum number of Australian workers. This was seen as a way to ensure that the benefits of the refinery were shared with the local community. The Act also provided for the training of local workers to improve their skills and capabilities.
In conclusion, the Oil Refinery (Kwinana) Agreement Act 1952 played a significant role in the development of the petroleum industry in Australia. It set out the regulatory framework for the construction and operation of a major oil refinery and ensured that the benefits of the refinery were shared with the local community. The Act remains an important piece of legislation today and continues to influence the regulation of the petroleum industry in Australia.