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This report provides information about New Zealand’s oil and gas industry, the contribution it makes to our economy, and its potential to lift our living standards. It provides detailed modelling and analysis that show how the economy might benefit if another petroleum basin was developed in a similar way to the Taranaki basin.

pdf, 2.2 MB

Renewables

New Zealand's renewable energy supply increased on 2023 levels, with strong growth in geothermal, solar, and wind energy. The renewable share of total primary energy supply increased, driven by both higher renewable output and reduced production of non-renewable energy sources. Additionally, the renewable share of consumption also increased compared to 2023.

Oil

Domestic consumption of oil products remains steady, with declines in commercial sector use counteracting an increase in residential and agricultural use. International transport fuel use continues to increase as travel recovers from the impacts of the coronavirus (COVID-19) pandemic.