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


Oil & gas block offer good for business and communities

2 April 2014

Oil & gas block offer good for business and communities

BusinessNZ says today’s announcement by the Government that designated blocks of land and sea are being made available to international companies for petroleum exploration is a welcome signal for investment in our economy.

It sends a message to international investors that along with other economic opportunities in agribusiness, IT and high-tech manufacturing, we are “open for business”.

BusinessNZ Chief Executive Phil O’Reilly says the Block Offer regime has the ability to achieve economic rewards for business and communities if done in an environmentally responsible way.

“There is great potential here for converting international investment into providing more for our communities in key regional infrastructure projects – like schools, roads and hospitals.

“This announcement is the first step in what should be a transparent and responsible process.

“It is reassuring to know that the areas made available for bidding have been decided upon after consultation with iwi, hapū and local authorities.

“This is also a good opportunity to strengthen New Zealand’s energy security. We are currently ranked third for energy security amongst the top 25 energy users in the world according to the International Index of Energy Security Risk. So New Zealand is punching considerably above it weight in this area.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news