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EnergyStream News

20 Nov 17

By Neil Ritchie

The New Zealand energy industry is continuing consolidating but with the price of oil now about $US60 per barrel further oil and gas exploration is likely in the next few years, as well as planning for the decommissioning of several existing offshore Taranaki fields.

The Todd Corporation is selling its 16 percent stake in the offshore Taranaki Maari-Manaia oil field to fellow partner and ASX-listed Horizon Oil for US$17.6 million as the country's wealthiest family continues reshaping its energy portfolio.

20 Nov 17

By Neil Ritchie

Two “home grown” Taranaki companies that initially concentrated on the region’s energy industry were both highly commended in the recent TSB-Taranaki Chamber of Commerce 2017 Business Excellence Awards.

Oakura-based Spill Control NZ was highly commended in Category A of the Small Business Excellence Award section of the competition, while New Plymouth’s SafetySolutions was highly commended in Category B of the Service Excellence Award section.

19 Oct 17

By Neil Ritchie

19 Oct 17

By Neil Ritchie

28 Sep 17

By Neil Ritchie

Overseas interest in acquiring control of some of New Zealand’s major and mid-sized oil and gas companies continues.

Canadian listed Jadestone Energy is now thought to be another bidder for Royal Dutch Shell’s remaining New Zealand oil and gas assets, joining large listed multinational corporations such as fellow Canadian Vermilion Energy and Austrian giant OMV, Aussie listed Woodside Energy and even private company Greymouth Petroleum, in conjunction with global investment company KKR.

08 Sep 17

By Neil Ritchie

21 Aug 17

By Neil Ritchie

Consolidations – planned and possible – look to continue in the New Zealand energy industry as participants contemplate what the future may look like for the new and remaining participants.

Top of the hoped-for list is confirmation by Royal Dutch Shell regarding Shell New Zealand’s likely exit from this country as part of its parent’s review of its global operations.

21 Aug 17

By Neil Ritchie