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News Headlines from Scoop

  • NZOG buyback to bolster share price
    Sept. 6 (BusinessDesk) - New Zealand Oil & Gas Ltd. is to buy back up to 2.2% of its issued capital, or 8.5 million ordinary shares, to bolster a share price directors say is “significantly below fair value.”

  • Transpower Reaches Agreement With Federated Farmer
    Transpower welcomes agreement with Federated Farmers on a standardised compensation approach for a major transmission duplexing project in the Lower South Island. Transpower will be compensating those landowners whose farm operations are disrupted by duplexing ...

  • Transpower to pay firms to stop using peak power
    Sept. 1 (BusinessDesk) – National grid operator Transpower is embarking on a project to produce a 21st century version of the “ripple control” system that’s currently used to take pressure off the electricity network during periods of peak demand.

  • Greenstone investment update – fourth new site ann
    Less than five months since Greenstone Energy acquired Shell New Zealand’s retail and distribution assets, the New Zealand company has confirmed four new investments.

  • Petroleum conference turns spotlight on potential
    Wellington, Monday, August 29 2010 – In a few weeks’ time the biennial New Zealand Petroleum Conference turns the spotlight on how New Zealand can unlock the potential of its burgeoning oil exploration and production industry, which is already one of ...

  • Genesis Energy beats forecast with $69M profit
    Aug. 30 (BusinessDesk) – Genesis Energy Ltd. reported a better than forecast net profit after tax for the year to June 30 of $69 million, thanks to favourable wholesale market hedge settlements and cost savings initiatives, chief executive Albert Brantley ...

  • Key Government hides from the truth about oil
    The Green Party is once again calling on John Key's Government to open a formal inquiry into the effects of an imminent oil price shock.

  • Mineral and petroleum permitting review begins
    Energy and Resources Minister Gerry Brownlee today invited feedback on proposals to update, streamline and future-proof the Crown Minerals Act, which provides the framework for management and allocation of rights to Crown-owned minerals.

  • Profits being gained by electricity companies
    Grey Power is very concerned about the increasing profits being gained by electricity companies. Meridian Energy has just announced record earnings before tax of $642 million. Its net profit of $185 million was twice last year’s profit.

  • NZOG has $3.3m loss, looks beyond NZ for growth
    Aug. 16 (BusinessDesk) – Exploration costs and declining revenues from the Tui oil and gas field were the primary reasons for New Zealand Oil & Gas Ltd. reporting a $3.3 million loss in the year to June 30, announced this morning.

  • BHP Urged To Dump Unethical Phosphate Trade
    The Australia Western Sahara Association today urged BHP-Billiton to suspend PotashCorp’s trade in phosphate from Western Sahara if its takeover bid is successful.

  • Non-Payment Breach Allegations
    The Electricity Commission has received breach allegations relating to non-payment of industry participants by the Clearing Manager, NZX, on Friday, 20 August.

  • Piek River loss widens ahead of hydro-mining start
    Aug. 25 (BusinessDesk) - Pike River Coal's annual net loss widened, reflecting the continued development of its West Coast mine.

  • Transpower omits as major projects roll on
    Aug. 25 (BusinessDesk) – State-owned electricity network monopoly operator Transpower Ltd won’t be paying a dividend to the government this year, despite a 4.6% improvement in profit for the year to June 30.

  • Meridian profit jumps on increased generation
    Aug. 24 (BusinessDesk) – Meridian Energy’s underlying earnings rose 29% in the year to June 30 to $251.9 million, reflecting a 13% increase in total generation, thanks to heavy use of hydro-electricity and its new West Wind power station.