Articles tagged with Petrol
New Petroleum Prospecting Application Targets Offshore Pegasus Basin in NZ
10 hours ago | 41 viewsResources Minister Shane Jones announced a new petroleum prospecting application by CBX Energy Limited for the largely under-explored Pegasus Basin east of New Zealand’s North Island, aiming to enhance understanding of its hydrocarbon potential. This application, covering over 4207 sq km, is part of a competitive three-month process and reflects renewed industry confidence following the repeal of the offshore exploration ban. The prospecting will utilize existing geological and geophysical data to inform future exploration, with applications assessed based on technical, financial, and compliance criteria under the Minerals Programme for Petroleum 2025.
Tags: Shane Jones CBX Energy Limited Pegasus Basin New Zealand Petroleum and Minerals Wahipapa fairway offshore exploration petroleum prospecting hydrocarbons Minerals Programme for Petroleum 2025 Crown Minerals ActNew Petroleum Mining Permit Boosts NZ Gas Supply and Oil Exports
1 week ago | 200 viewsNew Zealand has granted a 10-year petroleum mining permit to Matahio NZ Onshore Limited for the Puka field in Taranaki, expected to increase domestic natural gas supply and generate export revenue from oil production. The permit highlights growing momentum in the petroleum sector, with estimated recoverable reserves supporting energy security amid declining gas supplies. Resources Minister Shane Jones emphasizes the importance of a diverse energy system combining responsible resource development, renewable energy, and emerging technologies to ensure affordable and reliable energy.
Tags: Shane Jones Matahio NZ Onshore Limited New Zealand Petroleum and Minerals Puka field Oru prospect Taranaki petroleum mining permit natural gas oil production energy securityNew Petroleum Mining Permit in Taranaki Boosts NZ Gas and Oil Supply
1 week ago | 223 viewsNew Zealand has granted Matahio NZ Onshore Limited a 10-year petroleum mining permit for the Puka field in Taranaki, expected to add natural gas to the domestic market and generate valuable oil export earnings. The permit highlights growing momentum in the petroleum sector amid declining gas reserves, with gas remaining critical for electricity generation and industrial use alongside renewable energy. Resources Minister Shane Jones emphasizes that responsible resource development, combined with investment in renewables and emerging technologies, is essential for a resilient, affordable, and secure energy system.
Tags: Shane Jones Matahio NZ Onshore Limited New Zealand Petroleum and Minerals Puka field Oru prospect Taranaki petroleum mining permit natural gas oil production energy securityNew Offshore Petroleum Exploration Permit Granted in Taranaki Basin, NZ
3 weeks ago | 278 viewsNew Zealand has granted its first new offshore petroleum exploration permit since reversing the ban, awarding Australian company EnZed Energy a 12-year permit for a 546 sq km area east of the Kupe gas field in the Taranaki Basin. This move signals renewed investor confidence and aims to address declining natural gas reserves, which have dropped 23% to the lowest level in over two decades, emphasizing the importance of exploration for future energy security. The government highlights that natural gas remains crucial for electricity generation and industry, and exploration is essential to assess New Zealand’s remaining resource potential.
Tags: Shane Jones EnZed Energy New Zealand Petroleum and Minerals Kupe gas field Taranaki Basin Kaheru prospect Coalition Government petroleum exploration natural gas energy securityNZ Inflation Hits 4.1% Due to Oil Price Surge; Govt Emphasizes Fiscal Discipline
1 month ago | 306 viewsToday’s inflation rate of 4.1% is largely driven by a global oil price shock, with petrol and diesel prices rising significantly, while core inflation remains within the Reserve Bank's target range. Finance Minister Nicola Willis emphasizes the Government’s prudent response, including targeted support for those most affected by fuel costs and maintaining fiscal discipline to avoid exacerbating inflation. Despite global volatility, New Zealand’s economy is projected to grow steadily with job creation and wages outpacing inflation, supporting long-term affordability and resilience.
Tags: Nicola Willis Finance Minister Stats NZ Consumers Price Index inflation petrol prices diesel prices Reserve Bank New Zealand Government Middle East conflictNew Zealand Minerals Strategy Year One: Boosting Growth, Jobs, and Exports
1 month ago | 288 viewsOne year after launching A Minerals Strategy for New Zealand to 2040, the government has made significant progress by implementing policies and reforms that have increased mineral exports, production, employment, and permitting activity. Key achievements include establishing a Critical Minerals List, enhancing global partnerships, improving geoscience data access, and creating a more efficient regulatory framework, which have boosted investor confidence and sector growth. Moving forward, the focus will be on expanding international partnerships, attracting investment, reviewing royalty settings, and maximizing value from critical minerals through processing, refining, and innovation to sustain long-term economic benefits.
Tags: Shane Jones Minerals Strategy New Zealand Critical Minerals Mineral Exports Resources Minister Minerals Sector Petroleum and Minerals Regional Infrastructure Fund Resource Management ReformsNew Petroleum Exploration Permit Application Invites Investment in NZ Offshore Basin
1 month ago | 357 viewsResources Minister Shane Jones has welcomed Sunda Energy's new petroleum exploration permit application in the offshore northern Taranaki Basin, marking the sixth such application since the government lifted the offshore oil and gas exploration ban. Sunda Energy, having entered the New Zealand market through acquiring Matahio Energy’s assets, seeks to conduct geological and seismic studies over a 645 sq km area with known potential, aiming to evaluate drilling targets. The competitive application process, open until October 14, 2026, reflects growing investor interest that could enhance New Zealand’s energy security, create jobs, and boost economic resilience.
Tags: Shane Jones Sunda Energy New Zealand Petroleum and Minerals Matahio Energy Taranaki Basin Cheal Sidewinder Puka Awakino Crown Minerals ActRenewed Petroleum Exploration in Taranaki Basin as NZ Lifts Ban
1 month ago | 404 viewsNew Zealand has received its fifth petroleum permit application since lifting the exploration ban, with Taranaki Energy Pty Ltd applying to prospect in deepwater offshore Taranaki, an underexplored but highly prospective area. The proposed two-year work program involves seismic data reprocessing, basin modeling, and target identification to guide future investments, reflecting renewed momentum and growing confidence in the sector. The government’s open market regime allows continuous competitive applications, which will be assessed based on technical, financial, and compliance criteria to support energy security and economic resilience.
Tags: Shane Jones Taranaki Basin New Zealand Petroleum and Minerals Taranaki Energy Pancontinental Energy petroleum exploration exploration ban Minerals Programme for Petroleum 2025 Crown Minerals Act 1991 deepwater offshore TaranakiShaping NZ’s Modern Road User Charges: Consultation Open for Tech & Finance Sectors
3 months ago | 654 viewsTransport Minister Chris Bishop announced a consultation on proposed regulations to modernize New Zealand's road user charges system, transitioning from petrol tax to electronic charges based on actual road use and vehicle weight. The regulations will define how approved providers operate, protect personal data, and introduce flexible payment options like subscriptions or post-payment. The government seeks input from various sectors to create a fairer, simpler, and privacy-compliant system, with consultation open until 12 June.
Tags: Chris Bishop New Zealand Transport Minister Land Transport (Revenue) Amendment Bill road user charges electronic road user charges petrol tax hybrid vehicles Privacy Act Transport and Infrastructure Select CommitteeNew Petroleum Exploration Permit Application Sparks Confidence in New Zealand Energy Sector
3 months ago | 611 viewsThe fourth petroleum exploration permit application since the lifting of the exploration ban has entered New Zealand's open market competitive process, signaling renewed investor confidence in the sector. The application, submitted by a joint venture led by East Coast Energy Ventures Limited, aims to explore onshore and offshore areas in Waikato, with a staged work program starting with seismic data reprocessing. Resources Minister Shane Jones emphasizes that responsible new exploration is vital for maintaining energy security as existing gas fields mature and production declines, despite ongoing investments in renewables.
Tags: Shane Jones East Coast Energy Ventures Limited Monumental Energy Corp NZ Limited 3TCF Limited New Zealand Energy Corp New Zealand Petroleum & Minerals NZP&M New Zealand Kāwhia Harbour TSX Venture ExchangeSunda Energy Acquires Matahio Assets Boosting New Zealand’s Petroleum Sector
4 months ago | 897 viewsResources Minister Shane Jones welcomes the sale of Matahio Energy’s New Zealand assets to Sunda Energy as a positive sign of growing international interest and investment in the country’s petroleum sector. The transaction includes established onshore oil and gas operations in Taranaki and supports economic resilience, energy security, and regional development. Sunda Energy will now seek regulatory approvals, with the deal reflecting confidence in New Zealand’s oil and gas future and the importance of revitalizing proven assets.
Tags: Matahio Energy Sunda Energy Shane Jones New Zealand Taranaki petroleum sector oil and gas Cheal Sidewinder Puka exploration permitRenewed Oil and Gas Prospecting in Canterbury Basin Boosts NZ Energy Outlook
5 months ago | 1016 viewsA new prospecting permit application by CBX Energy Limited in the offshore Canterbury Basin reflects renewed confidence in New Zealand’s oil and gas sector, aiming to conduct technical and economic studies for basin development. The Canterbury Basin is a promising but underexplored area with potential hydrocarbons, offering opportunities to enhance domestic energy resources and economic growth. New Zealand Petroleum & Minerals is accepting competing applications until June 24, prioritizing them under the Minerals Programme for Petroleum 2025, with decisions expected later this year.
Tags: Canterbury Basin New Zealand Shane Jones CBX Energy Limited NZP&M petroleum prospecting permit offshore exploration oil and gas Crown Minerals Act 1991 Minerals Programme for Petroleum 2025New Zealand Maintains Strong Fuel Stocks with 49 Days Supply Amid Global Uncertainty
5 months ago | 982 viewsNew Zealand currently maintains healthy fuel stocks, with about 49 days of petrol, diesel, and jet fuel supply available, including fuel in storage and shipments en route. The government is enhancing fuel data reporting and working closely with industry to monitor supply risks, ensuring readiness amid global uncertainties like the Strait of Hormuz closure. Authorities emphasize there is no need for fuel restrictions at this time, assuring the public that any changes will be communicated promptly with mitigation plans in place.
Tags: Nicola Willis Shane Jones New Zealand fuel stocks petrol diesel jet fuel Ministry of Business Innovation and Employment fuel security Strait of HormuzRecord Mineral Permit Applications Boost New Zealand’s Gold Mining and Exploration in 2025
6 months ago | 997 viewsNew Zealand’s mineral exploration and mining sector is experiencing strong growth, with record permit applications and approvals in 2025, particularly for gold projects concentrated in the South Island’s West Coast. The diverse mix of prospecting, exploration, and mining permits, along with the conversion of small-scale permits to a more suitable regulatory class, indicates healthy progression and increased confidence in the sector. This momentum, driven by multiple mid-sized projects and active permit management, supports regional economic growth, job creation, and New Zealand’s broader resource development strategy.
Tags: New Zealand Shane Jones mining exploration mineral permits gold West Coast New Zealand Petroleum and Minerals regional economic growth mining projectsBoosting New Zealand's Gas Supply: $200M Fund Expansion for Energy Security
9 months ago | 942 viewsThe Coalition Government has expanded the Gas Security Fund to attract investments that will increase New Zealand's gas supply in the short-, medium-, and long-term to address energy security challenges. The fund will support various projects, including drilling in existing fields, exploration, and storage initiatives, aiming to stabilize supply and manage seasonal demand. The initiative aims to mitigate perceptions of risk in the petroleum sector and promote regional procurement, with investment decisions made jointly by the Ministers for Resources and Finance.
Tags: Shane Jones Chris Bishop gas supply investment fund energy security petroleum sector gas exploration gas storage energy affordability New Zealand