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

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news