Tag Archives: Oil & Gas

Port of Taranaki lifted annual profit 57 percent after it reported record revenue servicing the offshore oil and gas exploration industry. Profit rose to $11.7 million in the 12 months ended June 30, from $7.5 million a year earlier, the New Plymouth-based port said in its annual report. Sales rose 23 percent to $55.2 million, the highest ever for the …

Oil companies are forging ahead with a contingency plan to import more fuels into the country to minimise disruption if planned industrial action at New Zealand Refining goes ahead next month. BP external relations manager Jonathan Mills, speaking on behalf of the industry, said they were currently assessing how much fuel across all grades is being held in storage at the refinery, on …

New Zealand Refining, the nation’s only oil refinery, said two unions representing 160 of its workers, or about half its workforce, have served notice of a two-day strike next month, a move that could result in $8 million to $9 million of lost processing fees. First Union and the New Zealand Engineering, Printing and Manufacturing Union gave notice of strike action covering …

Brazilian oil company Petrobras is to hand back exploration licences it holds for deep sea oil and gas prospects in the Raukumara Basin, off East Cape, in what appears a reaction to a string of difficulties which have seen the global scale oil major report losses for the first time in 13 years. Prime Minister John Key told reporters for …

New Zealand Oil & Gas has agreed to acquire interests in three offshore Taranaki permits from ASX-listed Octanex for US$12.5 million plus a share of seismic costs. The company will pay US$12.5 million for a 12.5 percent interest in PE51906 which holds the Makatu prospect and is expected to be drilled in the second half of next year. Octanex will …