Annual petroleum reserves data released today by the Ministry of Business, Innovation and Employment (MBIE) shows as of 1 January 2026 New Zealand’s natural gas proven plus probable (2P) reserves declined 23% from last year to 731 petajoules (PJ), the lowest level since recording began 20 years ago, says Amapola Generosa, Domains Manager, MBIE.
There are sufficient levels of fuel in New Zealand, and on the way. However, it is important we plan and prepare for the unlikely event of a prolonged global fuel shortage.
The Government has decided to make regulations that designate the electricity sector under the Customer and Product Data Act. This will enable a consumer data right in the electricity retail sector.