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Energy Quarterly: Oil production, exports return to trend

Media release

19 June 2014

Oil production, exports return to trend; Renewable electricity generation 79%

The Ministry of Business, Innovation and Employment today released the March quarter 2014 edition of the New Zealand Energy Quarterly.

The report contains the Ministry’s latest data and analysis of energy supply and demand.

“In the March quarter 2014 oil production returned to trend with the Maari field returning to full production,” says Bryan Field, MBIE’s Manager of Modelling & Sector Trends.

Despite being shut down for maintenance for several months, Maari remained New Zealand’s second largest oil producing field in 2013, producing an average of 5,300 barrels per day of high quality crude oil.

“Renewable electricity generation also featured strongly in the March quarter 2014, generating 79% of New Zealand’s electricity.

“The share of electricity generated from renewable energy in the March quarter 2014 was higher than the previous March quarter value of 73%. This was due to more normal hydro inflows in the March quarter 2014, and some new geothermal electricity plants being commissioned,” Mr Field says.

The New Zealand Energy Quarterly report is available from the Ministry’s Economic Development website at: http://www.med.govt.nz/sectors-industries/energy/energy-modelling/publications/new-zealand-energy-quarterly. Detailed data tables are also available on the same website at:http://www.med.govt.nz/sectors-industries/energy/energy-modelling/data.

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