By RNZ
The Commerce Commission said the clearance is subject to Ampol selling its existing New Zealand operation, Gull Petroleum.
Commission chairperson Anna Rawlings said it was satisfied that if Ampol sold Gull, its $2 billion acquisition of Z Energy was not likely to dent competition in New Zealand.
Ampol announced earlier this week that it was planning to sell Gull to Australia's Allegro Funds for $572 million.
But the commission stressed it had not yet approved the sale of Gull to Allegro.