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Oil & Gas
Refining New Zealand is in the process of issuing a series of subordinated notes to repay existing debt.
Horizon Oil confirmed on Friday that its new senior debt facility was now in place and provides a better arrangement than the earlier structure.
Australian engineering giant WorleyParsons is to join a New Zealand oil storage service.
TAG Oil, which is moving to the departure lounge for New Zealand to expand its investments in Australia, had a healthy September quarter.
The significant slide of the oil price from its recent peak is seen by the chief of Z Energy as a boon for Z Energy’s bottom line and also for Kiwi motorists.
While New Zealand is putting clamps on future gas exploration a report by the International Energy Agency shows the rest of the world is adopting a contrary approach.
Hopes for the Kohatukai-1 exploration well in the onshore Taranaki were dashed when it failed to provide adequate signs of gas.
The wireline logging programme on Cue Energy’s Paus Biru-1 well in Indonesia that highlighted the presence of gas has been completed.
The petroleum industry’s campaign to fight the Government’s blinkered decision to not allow new offshore oil and gas permits will continue.
A strong defender for the oil and gas sector has made it clear that gas will be a major provider of energy in the future and New Zealand needs the opportunity to join this future.