Prime Minister Christopher Luxon maintains New Zealand faces “no risk of disruption to our future fuel supply” despite a second consecutive drop in national fuel stocks and the first reported delay of a shipment at an overseas loading hub.
Officials warned today that maritime delays are likely to turn into more frequent, revealing that one shipment had been held up in Singapore. The Ministry of Business, Innovation and Employment released the latest fuel stock update on Wednesday afternoon.
NZ to remain at level one of fuel plan
Luxon stated the country will remain at phase one of the national fuel response plan. “Officials have again recommended that a formal assessment is not necessary at this time,” he said. Whereas acknowledging the Strait of Hormuz remains “effectively closed” and the ceasefire is “fragile,” Luxon affirmed the government is actively preparing for potential widespread fuel shortages, stating, “We’re not there yet, and we hope to never acquire there, but as a prudent and responsible government, we understand it is better to have a plan.”
As of 11:59pm on Sunday, national fuel stocks stood at 56.3 days of petrol, 45.4 days of diesel, and 47 days of jet fuel – down from 59.7, 49.1, and 50.7 days respectively the previous Wednesday. In-country stocks are currently at 25.3 days of petrol, 20.8 days of diesel, and 21.3 days of jet fuel.
‘A bit like aviation fuel’ – Luxon on delayed shipment
Luxon described the delay of the “small shipment” in Singapore as lasting less than an hour and characterized it as routine, stating it was “just the nature of the industry” and “a bit like aviation fuel.” He added it was a “technical thing and a very minor thing, and not a significant thing at all.” Five tankers are within New Zealand’s exclusive economic zone, with seven more expected to arrive within three weeks – down from nine in the previous report.
The government is also reviewing “commercial proposals” for additional fuel supply and considering regulatory changes to improve fuel efficiency, such as allowing heavier loads for freight transport.
Luxon reiterated his confidence, stating, “We have a fuel supply. We’ve got confirmed orders out to the end of May. We’ve got planned orders well through June. We’re in a good position.”
Labour leader Chris Hipkins described the fuel figures as “alarming,” noting less than three weeks of diesel is currently held in the country and accusing the government of being unprepared. He stated, “Hope is not a plan, and it won’t keep fuel flowing for households and businesses.”
Frequently Asked Questions
What are the current fuel stock levels in New Zealand?
As of Sunday at 11:59pm, New Zealand has 56.3 days of petrol, 45.4 days of diesel, and 47 days of jet fuel.
What is the government’s current response phase?
The government is remaining at phase one of the national fuel response plan, as officials have not recommended a formal assessment at this time.
What caused the recent delay in fuel shipments?
A “small shipment” experienced a delay in Singapore due to congestion caused by more vessels using the hub as an alternative loading point.
As global events continue to impact fuel supply chains, what role should New Zealand play in diversifying its sources and bolstering its national reserves?
