A West Coast iwi has defended its decision to accept money from Meridian Energy for advice on the effects of a $300 million hydro dam.

Meridian Energy paid money to the local West Coast iwi after the iwi changed its position on a $300 million hydro dam.

Mayor Pat McManus says there's no shortage of water on the West Coast and the 'silent majority' of locals support the proposed Mokihinui dam.

The Government is under increasing pressure to delay, or at least soften the impact of, the emissions trading scheme.

Shell, BP, Mobil and Gull have cut petrol prices by up to five cents a litre ahead of the long weekend.

Around 500 protesters gathered to show their opposition to Government plans to mine the conservation estate.

The Prime Minister believes most New Zealanders would support mining on conservation land if the Government can prove it will benefit the country.

Shell's NZ petrol stations are now locally owned, with Infratil and the Super Fund saying that a large chunk of profits will stay in NZ.

Infratil and the NZ Super Fund says they have finalised the purchase of Shell New Zealand in a $696.5 million joint venture deal.