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Mobil to pay $10m for tank farm cleanup
Publicly-owned Waterfront Auckland has won $10m from oil giant Mobil to pay for a cleanup of part of the Wynyard Quarter.
Publicly-owned Waterfront Auckland has won $10m from oil giant Mobil to pay for a cleanup of part of the Wynyard Quarter.
The US crude benchmark finishing below $US40 a barrel for the first time in six years on China's weakening economy.
Solid Energy acting chairman Andy Coupe admitted it was "unlikely" that any sale, or sales, would cover its outstanding debt.
Genesis Energy announced its last two coal-burning electricity generators at Huntly Power Station will be shut down.
Mr Key said Solid Energy had $300 million of outstanding debt and was in a "precarious position".
New Zealand Oil & Gas says exploration drilling of the Barque prospect in the Canterbury Basin, which has the potential to be the nation's biggest-ever hydrocarbon discovery, is expected to start in 2017.
The world's big energy groups have shelved US$200 billion ($298 billion) of spending on new projects in an urgent round of cost-cutting to protect dividends as the oil price slumps for a second time this year.
Iran, once OPEC's second-biggest producer, will boost its oil exports by 500,000 barrels a day immediately after sanctions are lifted
While the world is distracted by the Greek saga and China something really important is going on: Iran and oil.
Firefighters have been working to contain a poisonous gas leak at a meatworks near Ngaruawahia this morning - the second at the company in less than a fortnight.
The Commerce Commission has indicated a timeframe on when it expects to make a decision the acquisition.
Genesis Energy, the country's biggest energy retailer, will permanently retire a coal/gas-fired unit at the Huntly Power Station.
Motorists will receive some respite from rising rising petrol prices, as Gull temporarily slashes 10 cents a litre from its pumps.
The boss of a Z Energy rival says its planned acquisition of Caltex operator Chevron NZ could impact competition in the fuel market.
Never mind cutting output to staunch a global glut - the talk so far is mostly about pumping more oil.
NZ's largest and longest-producing offshore oil and gas field, Maui, has gained marine resource consents allowing it to operate for up to 35 years more,
New Zealand's terms of trade improved 1.5 per cent in the March quarter but only because of the lagged effects of lower oil prices.
Z Energy shares have soared 21 per cent on news it has bought the Caltex chain of gas stations.
Could Chevron New Zealand's offloading of its NZ Refining shares be a sign of things to come?
A slump in dairy exports weighed on the trade balance last month.
More than six months into the great oil price crash, US growth remains sluggish and cautious US consumers have banked the savings, writes Liam Dann.
There's an Alice-in-Wonderland quality about Royal Dutch Shell's attitude towards the risks involved in its plan to drill for oil in the US Arctic.
Airline share prices fell 1.5 per cent around the world last month as the United States dollar and oil prices rallied, but are still up 23 per cent on a year ago.
Z Energy says work has slowed on its $20 million biodiesel plant but it will be finished in the next nine months.
Vector has formed a partnership with Tesla to bring its revolutionary home and business batteries to New Zealand.
Thick, black oil washed up on properties as far as Mangatapu last night after a spill in Tauranga Port yesterday - with fears for surrounding wildlife.