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In 2010 the branding remained as Shell whereas the holding company was renamed from Shell NZ to Greenstone Energy. After surveying 17,000 customers the following year, the company changed its name to Z Energy Limited and branded the service stations as Z. [9] The rebranding exercise is believed to cost around NZ$60m, compared to the NZ$10m/year cost of licensing the Shell brand. [10]
As of August 2021, NPD has 96 petrol stations, most being in the South Island. According to a study from the Commerce Commission, NPD "appeared to have the most impact on the oil majors' prices". [5] As of May 2020 it has 150 staff. [6] According to Gaspy, NPD and Waitomo had the lowest fuel prices in New Zealand in 2019. [2]
Waitomo Group warned of rising fuel prices when the 2022 Russian invasion of Ukraine began in late February 2022. [10] The Waitomo Group petrol station in Papanui, Christchurch sold out of fuel on 11 March 2022, after the company announced its intention to raise fuel prices. [11] Long queues were reported at other Waitomo stations around the ...
The first Challenge petrol station was opened by Fletcher Challenge in April 1998. [2] [3] The lower prices of Challenge and Gull New Zealand contributed to a price war in the New Zealand fuel retailing industry. [4] The Challenge brand was purchased by Caltex New Zealand from Rubicon in 2001.
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
The oil and gas industry in New Zealand explores and develops oil and gas fields, and produces and distributes petroleum products and natural gas. In 2022, New Zealand's net self-sufficiency in oil (production divided by consumption) was 12%, i.e. the country imported much more crude and refined oil than it exported. [ 1 ]
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In August 2021, Ampol launched a takeover bid for New Zealand fuel distributor Z Energy for NZ$2 billion. [108] In May 2022, the takeover was completed. [109] Z Energy operates more than 300 service stations under the Z Energy and Caltex brands, the latter of which is under a 5-year licensing agreement with Chevron renewed in March 2022. [110]