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

 


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.

[ends]


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news