New Zealand

New Zealand puts more emphasis on electric vehicles

New Zealand’s government said Tuesday it was introducing new measures aimed at increasing the number of electric vehicles on the nation’s roads. The government said the number of electric vehicles on the road was high, but more progress was needed to meet national goals. Transport Minister Simon Bridges and Natural Resources Minister Judith Collins unveiled new measures that would spread levy funding across more activities for the greatest gain. “We think there are opportunities to improve New Zealand’s energy productivity and reduce emissions by focusing on the transport and industrial sectors in addition to electricity efficiency,” Collins said in a statement . The International Energy Agency found substantial gains in the sale and construction of the infrastructure needed to support a broader […]

New Zealand defends energy sector in wake of Shell exit

8 Apr 2017   New Zealand

Shell’s planned exit from a natural gas field in New Zealand doesn’t indicate negativity in the country’s natural reserves, a national petroleum manager said. Royal Dutch Shell announced Thursday it was transferring its assets in the Kapuni gas field to Todd Energy, its joint venture partner. The Dutch supermajor said the sale would “simplify” its operational structure in preparation for more potential changes to its remaining assets in the region. National Petroleum Manager Josh Adams told UPI the transaction still needs to move through the regulatory process, though Shell signaled its divestment plans several months ago. “Acquisitions, divestments and company entries and exits are part of the exploration and development lifecycle,” he said. […]

Shell Sells Its Stake in New Zealand Gas Field

6 Apr 2017   New Zealand

Royal Dutch Shell RDS.B -0.48% PLC has taken a step toward an exit from its New Zealand assets with a deal to sell its 50% stake in a natural-gas field to its local venture partner, Todd Energy.  The agreement will also see Shell take full control of a joint-venture company that operates two further gas ventures in New Zealand, simplifying Shell’s operating structure as it looks to offload the assets. Financial terms weren’t disclosed.  The sale of its stake in the Kapuni field in New Zealand’s Taranaki region to Todd Energy follows a review of operations in the country that Shell announced in December 2015 as part of efforts to refocus its natural-gas and deep-water oil businesses following a slump in oil prices.

New Zealand floods force evacuations after Tropical Storm Debbie

6 Apr 2017   New Zealand

Two rivers burst their banks as the tail end of ex-Cyclone Debbie saw water levels surge Media captionTwo rivers burst their banks as the tail end of ex-Cyclone Debbie saw water levels surge Police are searching for one man believed missing in floodwaters near the swollen Waikato river. The military have been involved in evacuating people Residents have been warned not to return to their homes until the waters have subsided A month’s worth of rain fell in less than a day, on some areas of the North Island Rainfall has eased across most of New Zealand’s North Island. But former Cyclone Debbie is still having an impact in Australia, where severe flooding hit the town of Rockhampton, .

More drilling anticipated for New Zealand

31 Jan 2017   New Zealand

Australian energy company Melbana said Monday it was anticipating drilling success closer to home in New Zealand while keeping its eye on Cuban reserves. Melbana, which rebranded itself last year through a name change from MEO Australia, said it was planning to drill at the Pukatea-1 prospect onshore New Zealand during the third quarter. According to Melbana, Pukatea is a “low-cost [and] commercially robust” drilling opportunity with an estimated 12.4 million barrels of oil equivalents in prospective reserves. Oil is the fourth-largest export for New Zealand, bringing in around $700 million each year in royalties and taxes. The government said there are around 149 million barrels of oil reserves remaining in fields already in production. Elsewhere, […]

New Zealand steering committee to push EVs

New Zealand government forms a special counsel to help accelerate the implementation of electrical vehicles on the roads. File Photo by Bill Greenblatt/UPI WELLINGTON, New Zealand, Aug. 24 (UPI) — The government of New Zealand said it formed a special counsel tasked with accelerating the deployment of electric vehicles on the road. The government this year launched an initiative aimed at doubling the amount of electric vehicles on the road to 64,000 by 2021. Transport Minister Simon Bridges said a 10-member panel was appointed to help reach that goal . “I’m confident that this carefully selected group of corporate and government managers will bring their sectors together, and are ideally placed to carry out their role in this fast-moving program,” he said in a statement. The panel counts David Crawford, the CEO of the Motor Industry Association, and Abbie Reynolds, the executive director of the sustainable business council, among […]

New Zealand aims to double use of electric vehicles

6 May 2016   New Zealand

The government of New Zealand said Thursday it was taking additional steps to adopt a low-carbon economy by creating incentives to use more electric vehicles. “It’s clear that electric vehicles are the future,” Energy and Transport Minister Simon Bridges said in a statement. “A move from petrol and diesel to low-emission transport is a natural evolution, and it is our aim to encourage that switch sooner, rather than later.” Bridges unveiled a package of incentives the government said will remove some of the barriers that inhibited the broader use of electric vehicles. According to his estimates, consumers would pay the per-gallon equivalent of 85 percent less for fuel with electric vehicles. The New Zealand government said […]

After Almost 105 Years Shell Mulls New Zealand Exit Amid Review

10 Dec 2015   New Zealand

Royal Dutch Shell Plc, which reported its biggest net loss in more than a decade in October and has halted projects in Canada and the Arctic, is reviewing investments in gas fields to pipelines in New Zealand. The Hague-based company made its first investment in the Pacific Island nation in 1911 and is considering options including a full country exit, Rob Jager, Chairman of Shell Companies in New Zealand said Thursday on a conference call with reporters. Shell earlier this year said it would take a $4.61 billion charge resulting from the withdrawal from offshore drilling in Alaska and an oil-sands project in Canada. “Choices have to be made to streamline the global portfolio,” Jager said on the call. “Shell is increasingly focusing on large growth opportunities, with deep water and integrated gas as growth priorities.” Oil and gas companies are reviewing portfolios and undertaking the biggest belt-tightening in […]

Shell puts its New Zealand oil and gas assets up for sale

10 Dec 2015   New Zealand

Shell has put its upstream holdings in New Zealand, which account for a significant chunk of the nation’s oil and gas production, up for sale. “These assets are profitable, well maintained and are an important part of New Zealand’s energy mix,” Shell New Zealand Chairman Rob Jager said in a statement Thursday. “The Shell business in New Zealand is great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time.” Shell is streamlining its global portfolio given the current low oil price environment. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more “Shell is focusing on large growth opportunities, with deepwater […]

New Zealand joins geothermal alliance

9 Dec 2015   New Zealand

New Zealand’s government joined a global geothermal energy group, saying the move was emblematic of a shift toward a low-carbon economy. New Zealand Energy Minister Simon Bridges announced from the sidelines of the U.N. climate conference in Paris his government joined the Global Geothermal Alliance . “As the world transitions towards a lower carbon future, the increased demand for renewable energy, coupled with the ongoing interest in energy security, has focused attention on geothermal energy,” he said in a statement. “Worldwide installed capacity is forecast to double this decade.” Bridges arrived in Paris last week, bringing with him a message of how energy diversity can help advanced economies switch to a low-carbon model. […]

New Zealand marks end to coal power

7 Aug 2015   Coal, New Zealand

Coal-fired power is coming to an end in New Zealand as the country focuses on taking the global pole position in renewables, the energy minister said. “Historically coal has played an important role in ensuring the security of New Zealand’s electricity supply, particularly in dry years where our hydro-lake levels are low,” New Zealand Energy and Resources Minister Simon Bridges said in a statement. “But significant market investment in other forms of renewable energy in recent years, particularly in geothermal, means that a coal backstop is becoming less of a requirement.” Utility Genesis Energy said Thursday it’s on pace to shut down its last two coal-fired power plants by December 2018, effectively marking the end […]

New oil expected offshore New Zealand

3 Jul 2015   New Zealand

 The New Zealand government said Thursday a long-term investment by Austrian energy company OMV in the country’s largest oil field has paid off. OMV started producing oil from the Maari field, the largest offshore oil field in New Zealand, in 2009. It’s so far produced a total 15 million barrels and the company has since embarked on a campaign to double the expected rate of production. “The national government’s hard work in this area has delivered significant levels of exploration activity,” Energy Minister Simon Bridges said in a statement. “By necessity, the petroleum sector has a long-term view and – even with the current low global oil price – we remain confident that New Zealand remains attractive for those wanting […]

New Zealand breaks renewable energy record

26 Mar 2015   New Zealand

New Zealand says it’s on pace to use renewable resources for nearly all of its electricity. File Photo by UPI/Stephen Shaver. The share of renewable energy on the grid in New Zealand is the highest it’s been in close to 20 years, the country’s energy minister said Thursday. The share of electricity generated from renewable resources last year was 79.9 percent, a 5 percent increase from the previous year. “New Zealand’s share of renewable electricity generation is the fourth largest in the world,” Energy and Resources Minister Simon Bridges said in a statement. The government attributed the rise to the growth in geothermal generation, which more than doubled in the last decade. New Zealand last held an auction for oil and gas exploration in December, which Bridges said was the most successful to date . Around 149 million barrels of oil reserves remain in fields already in production and […]