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.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news