New Zealand not currently considering jet fuel measures: Jones
Sydney (29 April)
The New Zealand Government is not currently considering additional measures to boost jet fuel supplies because importers report no issues with incoming shipments, the country’s Resources Minister Shane Jones told Lithos today.
“[Measures] would be considered only if fuel companies were unable to access supply, and that is not what current information shows,” Jones said.
The Ministry of Business, Innovation and Employment (MBIE) continues to closely monitor fuel supply, demand, and shipping movements and keeps ministers regularly informed, Jones added.
Fuel suppliers have assured air carriers - including Virgin Australia - about fuel supplies into June, Lithos has learned.
New Zealand had 32 days’ worth of jet fuel reserves in the country on 26 April, up from 25 days’ of reserves on 22 April, data released by MBIE today show. New Zealand’s overall jet fuel stock levels remain sufficient, Jones said.
But planned future jet fuel deliveries into the country have continued to slow. Ships carrying 17 days’ of jet fuel reserves are set to arrive in New Zealand over the three weeks from 26 April, down from the 21 days’ of reserves set to arrive over the three weeks from 22 April.
The New Zealand Government will take advice on whether it should buy additional supplies of jet fuel, though the country has limited jet fuel storage capacity, Resources Minister Shane Jones said at a press conference on 28 April.
New Zealand’s government has already taken steps to shore up its diesel reserves. Z Energy agreed to buy and store 90 million litres of diesel - equivalent to about 9 days’ supply - on behalf of New Zealand’s government to boost national reserves on 28 April.
Z Energy – Ampol’s New Zealand subsidiary – will store the diesel at the now-dormant Marsden Point oil refinery. Last week, the Government secured the right to store nine days’ worth of diesel at Marsden Point from 31 May 2026 until the end of 2027.
New Zealand had 36 days’ worth of petrol reserves and 28 days’ worth of diesel reserves in the country on 26 April, MBIE data show. It had 36 days’ worth of petrol reserves and 22 days’ worth of diesel reserves on 22 April.
By Avinash Govind