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

 


Latest energy statistics published

Latest energy statistics published

The Ministry of Business, Innovation and Employment has today published Energy in New Zealand 2014, which contains a wide range of energy-related information based on new and consolidated statistics.

Energy in New Zealand 2014 details the supply, transformation and use of all types of fuel in New Zealand. It also contains information on energy prices, international comparisons and oil and gas reserves.

New Zealand’s use of energy relative to GDP or “energy intensity” is continuing to improve. In real terms, energy intensity was 1.8 percent lower in 2013 than in 2012. This continues an average downward trend in New Zealand’s overall energy intensity of 1.4 percent per year since 1990.

Oil and gas exploration and development expenditure increased to $1.577 billion in 2013, up 7 percent from 2012. In 2013, 32 wells were drilled to a cumulative depth of over 93 km.

Gas reserves have been revised upwards by 31 percent from 2012, and the remaining reserves at 2,642 petajoules are now the highest in 13 years. This reflects a significant increase to the reserves at several key fields. Sustained drilling programmes at Maui and Mangahewa, as well as a number of well surveys at Pohokura and Kupe, have enabled a better understanding of these fields.

The share of electricity generated from renewables increased to 75.1 percent, up from 72.8 percent in 2012. The main factors driving this growth were an increase in geothermal electricity generation capacity (commissioning of Ngatamariki), and the retirement of a second 250 MW coal-fired generation unit at Huntly during the year.

During 2013, 35,500 barrels of crude oil and condensate were produced in New Zealand on average per day – 14 percent less than in 2012. The main reason for this drop was an extended maintenance shutdown at the Maari oil field late in the year.

Net production of natural gas (excluding production losses and flaring) in 2013 was 181 petajoules, an increase of 7 percent from 2012.

Energy in New Zealand 2014 is used by MBIE and other government agencies to develop policies on energy and to forecast energy supply and demand, as well as by energy sector participants and by the International Energy Agency.

It is available on MBIE’s Economic Development website at http://www.med.govt.nz/sectors-industries/energy/energy-modelling/publications/energy-in-new-zealand

[ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news