19 Mar 2026
7 months ago
1338 views
New Zealand will release 1.577 million barrels of crude oil purchase options, known as oil tickets, to support the International Energy Agency’s collective response to oil supply disruptions caused by the Strait of Hormuz closure. This contribution, part of a larger IEA release of 400 million barrels, aims to ease global refinery pressure and stabilize markets without affecting New Zealand’s domestic fuel security. The released tickets pertain to crude oil and fuels incompatible with New Zealand’s system, meaning no physical oil supply will be directly released.
14 Mar 2026
7 months ago
1292 views
Energy Minister Simon Watts is traveling to Japan to participate in the Indo-Pacific Energy Security Ministerial and Business Forum, emphasizing the importance of energy security amid Middle East conflicts and geopolitical uncertainty. New Zealand is committed to securing global energy supply chains, particularly for liquid fuels, and remains prepared with resilient fuel systems and healthy stockpiles. The forum provides a key opportunity for New Zealand to collaborate with Indo-Pacific partners and support the International Energy Agency’s collective actions.
20 Feb 2026
8 months ago
1312 views
New Zealand has joined 32 member countries at the 2026 International Energy Agency Ministerial meeting in endorsing a Declaration to strengthen global cooperation on critical minerals essential for the clean energy transition and long-term energy security. The Declaration directs the IEA to enhance data collection, market monitoring, emergency preparedness, and innovation in recycling and recovery, while New Zealand aims to leverage its mineral resources and strong environmental standards to become a reliable supplier in global critical mineral supply chains. Resources Minister Shane Jones emphasized that responsible development of these minerals will boost economic resilience, create skilled jobs, and strengthen international partnerships.