Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Shell Offers To Divest More Gas Assets

The Commerce Commission has agreed to a request from Shell Overseas Holdings Limited to amend its current application for clearance to acquire Fletcher Challenge Energy Limited (FCE).

Commission Chair John Belgrave said that Shell's amendment is to divest more of the assets currently owned by FCE. The assets are those associated with the Kaimiro and Mangahewa fields.

Mr Belgrave said that the Commission has not changed its timetable and is scheduled to make its decision on Friday this week.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets.

Parties can apply for a clearance, which the Commission will grant if it is satisfied that dominance is not acquired or strengthened.


Commission media releases can be viewed on its web site www.comcom.govt.nz


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: