Land and Water Forum chair Alistair Bisley says the forum process should land safely by the end of next week, although as in all landings, “seatbelts are fastened” as some of the big issues continue to be worked through. He says “substantive progress” is being made in final discussions relating to water quality, allocation, including […]
The Kupe oil and gas field holds substantially more light crude oil than previously estimated, as well as additional gas and LPG which will boost its value by between $650m and $750m at today’s prices. The increase represents a boost of around $200m-plus for Kupe’s 31% owner, state-owned Genesis Energy, which identified the value of […]
The temperature on key issues inside the Land and Water Forum is rising with only some 6 weeks to go before it must issue a report to Environment Minister Nick Smith. The forum has been an experiment in consensus-building, taking the last year to put together industrial, farming, municipal, recreational, iwi and environmental groups with […]
Resources Minister Gerry Brownlee first floated exploiting the nation’s most protected conservation lands - those covered by Schedule 4 of the Crown Minerals Act - last September, in a speech as close you can get to unauthorised. His colleagues, particularly the risk-averse John Key and his right-hand Auckland temperature-taker Steven Joyce, ducked for cover expecting […]
Canadian explorer TAG Oil is reporting a 450% increase in recoverable reserves from the Mt Messenger formation, in Taranaki, taking known and probable remaining reserves to 651,000 barrels of oil and 258m cubic feet of natural gas. The increased reserves, based on a single fracture test in the Cheal mining permit, which TAG acquired last […]
Genesis showed more political nous than Contact or Mercury by saying it would not be raising tariffs as soon as the ETS came into force on July 1, but this doesn’t mean the company won’t recoup the impact. Its Statement of Corporate of Intent for 2011-2013 identifies the recovery of carbon costs, along with oil […]
NZ offshore ironsands explorer Trans Tasman Resources (TTRL) believes a 10m tonne a year steel mill using local ironsands as feedstock could be established as the world’s largest and most competitive plant of its type, either in Asia or NZ. TTRL keeps a low profile in NZ, but its latest thinking is outlined on the […]
An insight into the value of oil production to the NZ economy came with the disclosure the Tui offshore oilfield has yielded 28.15mmbbls of oil since it was commissioned in July 2007, contributing more than $3bn to the country’s export earnings. Tui operator AWE confirmed the second of two exploration wells planned in the Tui […]
A new British Govt incentive scheme for small-scale wind projects is causing rocketing demand for 500KW turbines, perfectly fitting the specifications of Christchurch two-bladed turbine manufacturer, Windflow Technology. With no new orders beyond those required to complete the Te Rere Hau wind farm, Windflow needs to find new customers or faces a production wind-down in […]
Commissioners for West Coast Regional Council have rejected Solid Energy’s plans for a 35MW hydro scheme co-ordinating with its Stockton plateau mining operation. In a decision hailed as a victory by a rival Stockton scheme, the 50MW Hydro Developments Ltd project, the Solid Energy proposal is knocked back largely because it would be likely to […]
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