7 Mar 2022

The sticky issue of closing Marsden Point amid global oil uncertainty

From Nine To Noon, 9:05 am on 7 March 2022
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Photo: 123RF, RNZ

Big changes are coming to the way we get fuel into, and around, the country - and there are warnings about the huge implications of getting it wrong. The price of petrol is already burning a hole through many people's pockets, and with rising inflation and a war in Europe ignited by energy giant Russia, the pain at the pump won't be extinguished any time soon. Amid this smoldering situation, comes the transition of Marsden Point next month from oil refinery to import terminal. Instead of product being refined here and shipped to ports around the country, it's estimated 175 big tankers will bring in what we need each year - roughly one pumping and dumping into our supplies every two days. The two tankers that have been chugging New Zealand-refined product around the country's coastline, the MT Kokako and MT Matuku, will be taken out of service in a few weeks. And this change will affect how we meet our obligation to keep a certain about of fuel in reserve. Kathryn speaks first to Craig Harrison, president of the Maritime Union which is part of the Save Our Tankers campaign - concerned about the impact of these fundamental changes. She'll also talk to Julian Hughes, Z Energy's General Manager, Supply.