Two teenagers are seriously ill in Middlemore Hospital with extensive burns after a gas cylinder is thought to have exploded in their faces.

NZ oil and gas exploration will get a substantial boost in government resources, including funding to chase deep-sea methane hydrates that have yet to be commercially exploited anywhere in the world.

Petrol prices are falling at Australian pumps - but oil companies in NZ say motorists shouldn't expect the same here.

State owned energy company Genesis Energy has reported a better than forecast net profit after tax for the year of $69 million.

Large and small business must embrace green concepts to help the bottom line, say authors of a new book.

The Green Party says the Government is taking a "head-in-the-sand" approach to oil prices and should prepare now by investing in alternative fuels and public transport.