In an increasingly complex world, is NZ's fuel supply secure?

May 26, 2024

Associate Energy Minister Shane Jones is investigating reopening the Marsden Point oil refinery. (Source: 1News)

New Zealand's fuel storage levels and energy resilience are under scrutiny, with suggestions by Associate Energy Minister Shane Jones that some regions have faced the prospect of running perilously low on reserves.

Details on the Government's fuel resilience investigation will be revealed this coming week, with results expected by Christmas.

As part of its coalition deal, NZ First was promised a report investigating re-establishing the Marsden Point refinery - but there's been scepticism.

Details on the Government's fuel resilience investigation will be revealed this coming week.

John Carnegie, head of the oil industry group Energy Resources Aotearoa, said: "New Zealand actually isn't alone in closing refineries that are no longer economic.

"The global trend has been for older and smaller refineries to close as they simply can no longer compete."

To address resilience concerns, the previous Labour government legislated minimum fuel stockholding rules taking effect in January 2025.

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