NZ Fuel Market Resilience - Fuel Reserves Agreement

Agency details: MBIE Successful supplier: Z Energy Limited, NZBN 9429040935874 Description of procurement: Z will import approximately 550,000 barrels of diesel into New Zealand for storage at Marsden Point, held at the Crown's direction. Ownership remains with Z. A pricing mechanism linked to international diesel benchmarks applies to the arrangement Contract award date: 6 May 2026 Contract…

Agency details: MBIE Successful supplier: Z Energy Limited, NZBN 9429040935874 Description of procurement: Z will import approximately 550,000 barrels of diesel into New Zealand for storage at Marsden Point, held at the Crown's direction. Ownership remains with Z. A pricing mechanism linked to international diesel benchmarks applies to the arrangement Contract award date: 6 May 2026 Contract term: 6 May 2026 to 31 January 2027 Contract value / evaluation range: $55,000,000 Procurement process: Closed tender to five New Zealand suppliers under emergency procurement for time Opt-out / exemption justification: Exemption under rule 12 - emergency procurement Additional information: This was undertaken as emergency procurement to deliver a strategic reserve during the 2026 Fuel Response. The contract provides for approximately 550,000 barrels of oil to be imported to New Zealand to be used at the direction of the Crown. The process was a closed competitive process to qualified New Zealand importers