Almost all of the fuel that Z Energy sells in New Zealand comes from overseas. Around 70% of this Fuel is made from crude oil sourced from the Middle East and Far East.
Where does New Zealand get their oil from?
New Zealand’s locally-produced oil is generally exported because of its high quality and therefore high value on the international market. Australia buys most of this oil. The Middle East tends to be our largest source of crude oil — over half generally comes from there.
How much petroleum does NZ import?
|Barrels per Day|
Where does our petrol come from?
Petrol and diesel come from crude oil, which comes from deep underground. Crude oil is refined to make petrol (in America this is known as gasoline) or diesel. Most forms of transport use either petrol or diesel to power their engines – from lawnmowers, cars, buses and motorbikes to large ships and aeroplanes.
Is there any oil in NZ?
Most of the world’s oil and gas reservoirs are found in ‘sedimentary basins’. New Zealand has 17 sedimentary basins within its Exclusive Economic Zone, which all have the potential to have hydrocarbon reservoirs. Currently New Zealand is only producing oil and gas from one of these basins – the Taranaki Basin.
Does New Zealand have oil refineries?
Refining NZ is the country’s only oil refinery and the leading supplier of refined petroleum products to the New Zealand market, including petrol, diesel, aviation fuel and other products. We are undergoing a period of change to our business. Find out more about what this means.
Does NZ import gas?
When necessary, BP, Mobil and Z Energy import finished products into all major ports around New Zealand, but mainly to storage terminals at Mt Maunganui, Wellington and Lyttelton. Refining NZ doesn’t import any finished products.
How much oil does NZ import each year?
New Zealand Crude Oil: Imports was reported at 103.750 Barrel/Day th in Dec 2019. This records an increase from the previous number of 99.709 Barrel/Day th for Dec 2018. New Zealand Crude Oil: Imports data is updated yearly, averaging 89.007 Barrel/Day th from Dec 1980 to 2019, with 40 observations.
Will we run out of petrol?
While fossil fuels were formed millions of years ago, we’ve only been using them for fuel for a fairly short period of time – just over 200 years. … If we keep burning fossil fuels at our current rate, it is generally estimated that all our fossil fuels will be depleted by 2060.