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

 

BP meeting with Minister Woods

BP New Zealand representatives today met with the Minister of Energy and Resources, Dr Megan Woods, to provide further context in relation to the internal email - made public earlier this week.

“I was pleased to have the opportunity to meet with Minister Woods and reassure her that BP is operating in a highly competitive and dynamic market and the actions referred to in the email reflect that,” BP New Zealand Managing Director, Debi Boffa, said.

“We fully appreciate that the tone of the email may have appeared blunt to an external audience who don’t have the full context. It was absolutely not our intent to cause any misunderstanding, nor is it the way we operate.

“At the time the email was written BP Connect Otaki was operating at a price point below a sustainable return. At the same time neighbouring BP Connect sites had been heavily discounted even further.

“The action BP then took was to re-adjust its prices to get closer to a sustainable return across the Kapiti/Horowhenua market.

“BP co-operated in full with the 2017 Fuel Market Financial Performance Study. We strongly support and welcome the recommendation made for the Commerce Commission to be granted additional powers to undertake further fuel market studies.

“We believe the Commerce Commission are the right people to carry out this piece of work. Their independence will provide greater assurance to Government and the New Zealand public that we are all paying fair and reasonable prices for our fuel,” Ms Boffa said.

BP New Zealand currently has more than NZ$1 billion worth of capital invested in New Zealand, having operated here for 72 years. BP currently invests between $50 and 60 million a year in its operations, which includes the training and development of more than 1800 staff.

-Ends



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>

ALSO:

Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>

ALSO:

Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>

ALSO:

In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>

ALSO:

Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>

ALSO:

Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>

ALSO: