Channel well placed to meet fuel storage requirements

Channel says it's strategically positioned to accommodate more fuel storage. (Image: Getty)

Thu, 06 Jun 2024

The government has abandoned plans for the Ministry of Business, Innovation and Employment to directly procure and store 70 million litres of reserve diesel.Associate energy minister Shane Jones announced the development on Thursday, while also referencing legislative changes in 2023 requiring fuel importers to hold 28 days’ worth of petrol, 24 days of jet fuel and 21 days of diesel from Jan 1, 2025.“A proposal for the government to investigate funding 70m litres in reserve diesel stock and its storage was also committed to at the t...

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