Genesis decides to keep Kupe field

Genesis decides to keep Kupe field
Genesis says holding on to gas field is interest of shareholders and the country (Image: supplied)
Ian Llewellyn
Genesis Energy has decided to keep its 46% stake in the Kupe oil and gas field after a strategic review.The review was held in the context of the government’s push for 100% renewable electricity by 2030 and wider decarbonisation plans. Oil and gas field operators are also weighing up new laws and regulations around the decommissioning of the assets.Balancing these regulatory risks is that gas is in short supply in New Zealand and demand is running high. Some large consumers have complained that they are facing very large increases when tr...

More Markets

NZ sharemarket falls 0.6% after Monday's surge
Markets Market close

NZ sharemarket falls 0.6% after Monday's surge

The S&P/NZX 50 Index closed at 13,113.19, declining 82.89 points or 0.63%.

Graham Skellern 26 Nov 2024
Rocket Lab nabs Biden funding
Markets

Rocket Lab nabs Biden funding

Rocket Lab has hit a milestone by launching two Electron rockets within 24 hours.The New Zealand-American firm also said on Tuesday it had finalised US$23.9 million (NZ$41.3m) in Biden administration “Chips Act” funding.Proposed recipients of funding under the legislation, design...

Staff reporters 26 Nov 2024
Aroa posts $1.5m HY loss, forecasts annual profit
Markets

Aroa posts $1.5m HY loss, forecasts annual profit

Auckland surgical products company is forecasting annual profit of between $2m to $6m.

John Anthony 26 Nov 2024
Pacific Edge posts $14.5m loss
Markets

Pacific Edge posts $14.5m loss

The cancer diagnostics company is awaiting outcomes of several events.

John Anthony 26 Nov 2024