Additional 90 million litres of diesel coming

The Government has secured an additional nine days’ of diesel supply to boost New Zealand’s fuel reserves and help shield the country from the global oil shock, Finance Minister Nicola Willis and Associate Energy Minister Shane Jones say. 

“Following a contestable procurement process, the Government has signed a letter of intent with Z Energy today to procure 90 million litres of NZ specification diesel.

“Under the terms of the deal:

• the fuel will be delivered to Marsden Point either as a single cargo or as two cargoes
• the Crown's exposure to any long-term fall in fuel prices will be limited; and
• the fuel will be held at the direction of the Crown.

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