“Natural gas net production for the quarter was 31.89 PJ, a 12 per cent decrease on March 2023 and the lowest quarterly net production since March 1985,” says MBIE Markets Manager Mike Hayward.
Genesis Energy said it planned to use profits from the Kupe gas field to support a $1.1 billion programme to build new renewable generation and grid-scale.
Genesis Energy launches new strategy - sharechat.co.nz sharechat.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sharechat.co.nz Daily Mail and Mail on Sunday newspapers.
Officials questioned why the outgoing Government was bothering with a ban on new baseload fossil-fuel electricity generation, noting that fossil fuels had.