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02/06/2015 - General News

Z Energy to acquire Chevron transport fuel business

Z Energy has signed an agreement with a subsidiary of Chevron Corporation to acquire 100 per cent of Chevron New Zealand.
The acquisition is subject to clearance under the Commerce Act 1986 and consent of the Overseas Investment Office (OIO).
Z is paying NZ$785 million for all of the shares of Chevron New Zealand, the owner of Chevron’s downstream operations in New Zealand, including Chevron-owned service stations and lubricant interests. The proposed acquisition excludes Chevron’s upstream interests and Chevron New Zealand recently sold its shareholding interest in Refining NZ.
Z Energy Chief Executive, Mike Bennetts, said the acquisition was a major opportunity in the company’s development, with substantial advantages for the New Zealand market.
“Z is a Kiwi company, all of our people live here and we’re all completely focused only on serving the New Zealand market and Kiwi customers. Over the past five years we have proven our commitment to New Zealand as demonstrated through our investment in local communities, new customer offers like pay at pump, and developing alternative renewable fuels through a $25 million investment in the country’s first commercial scale biodiesel plant.
“Customers can expect us to continue to provide service and choice by investing in new offers, there will be new jobs created as we bring back roles from offshore, and our many shareholders can expect to benefit from a more efficient company.”
Mike Bennetts said Z is the best positioned and most logical buyer of the Caltex business both for the future of the industry and for New Zealand.
“Like the creation of Z five years ago, this acquisition bucks the trend of Kiwi companies being sold offshore. Instead, this transaction represents another example of bringing the New Zealand operations of a multinational company directly into the ownership and exclusive operation of a company that has recently been recognised as having one of the strongest and most trusted corporate reputations in New Zealand,” he said.
3 Queens Wharf
PO Box 2091
Wellington 6140
New Zealand
0800 474 355
z.co.nz
“The New Zealand transport fuels market is and will remain highly competitive,” he said. “As New Zealanders know, Z and Caltex are only two players in a very dynamic marketplace in which there are currently five importers of refined fuel and crude oil and where motorists have the choice of at least a dozen fuel retailers.”
There will be benefits for the expanded company from procurement, operating cost and supply chain efficiencies achievable under common ownership and systems.
Mike Bennetts said Z will operate two brands throughout the combined service station network. Z will continue with its new build programme on prime sites around New Zealand, and on delivering choice and the best possible service to New Zealand motorists and transport operators.
“The acquisition is also a great fit with our longer term market growth strategy. Caltex is a successful and highly attractive business in New Zealand and the acquisition means we can use the scale of the combined operation for the expanded supply of biodiesel to a broader market.”
Mike Bennetts said the Commerce Commission and Overseas Investment Office processes were expected to take some months. “It is very much business as usual for Z, with a continued focus on safety, people and operational excellence.”
The transaction will be financed through a combination of existing cash, committed term debt and standby facilities together with an expected underwritten pro rata equity raising which will occur closer to settlement.
Z is advised by Goldman Sachs New Zealand Limited, together with Minter Ellison Rudd Watts, Chapman Tripp and PwC.

Z Energy has signed an agreement with a subsidiary of Chevron Corporation to acquire 100 per cent of Chevron New Zealand.

The acquisition is subject to clearance under the Commerce Act 1986 and consent of the Overseas Investment Office (OIO).

Z is paying NZ$785 million for all of the shares of Chevron New Zealand, the owner of Chevron’s downstream operations in New Zealand, including Chevron-owned service stations and lubricant interests. The proposed acquisition excludes Chevron’s upstream interests and Chevron New Zealand recently sold its shareholding interest in Refining NZ.

Z Energy Chief Executive, Mike Bennetts, said the acquisition was a major opportunity in the company’s development, with substantial advantages for the New Zealand market.

“Z is a Kiwi company, all of our people live here and we’re all completely focused only on serving the New Zealand market and Kiwi customers. Over the past five years we have proven our commitment to New Zealand as demonstrated through our investment in local communities, new customer offers like pay at pump, and developing alternative renewable fuels through a $25 million investment in the country’s first commercial scale biodiesel plant.

“Customers can expect us to continue to provide service and choice by investing in new offers, there will be new jobs created as we bring back roles from offshore, and our many shareholders can expect to benefit from a more efficient company.”

Mike Bennetts said Z is the best positioned and most logical buyer of the Caltex business both for the future of the industry and for New Zealand.

“Like the creation of Z five years ago, this acquisition bucks the trend of Kiwi companies being sold offshore. Instead, this transaction represents another example of bringing the New Zealand operations of a multinational company directly into the ownership and exclusive operation of a company that has recently been recognised as having one of the strongest and most trusted corporate reputations in New Zealand,” he said.

“The New Zealand transport fuels market is and will remain highly competitive,” he said. “As New Zealanders know, Z and Caltex are only two players in a very dynamic marketplace in which there are currently five importers of refined fuel and crude oil and where motorists have the choice of at least a dozen fuel retailers.”

There will be benefits for the expanded company from procurement, operating cost and supply chain efficiencies achievable under common ownership and systems.

Mike Bennetts said Z will operate two brands throughout the combined service station network. Z will continue with its new build programme on prime sites around New Zealand, and on delivering choice and the best possible service to New Zealand motorists and transport operators.

“The acquisition is also a great fit with our longer term market growth strategy. Caltex is a successful and highly attractive business in New Zealand and the acquisition means we can use the scale of the combined operation for the expanded supply of biodiesel to a broader market.”

Mike Bennetts said the Commerce Commission and Overseas Investment Office processes were expected to take some months. “It is very much business as usual for Z, with a continued focus on safety, people and operational excellence.”

The transaction will be financed through a combination of existing cash, committed term debt and standby facilities together with an expected underwritten pro rata equity raising which will occur closer to settlement.

Z is advised by Goldman Sachs New Zealand Limited, together with Minter Ellison Rudd Watts, Chapman Tripp and PwC.

General

29/05/2015 - Sustainability news

What we do at home

We wondered how committed our office teams were to sustainability at home... So we asked!

We found out that out of 114 Z staff surveyed...

 

 

 

07/05/2015 - Submissions and Presentations

New Zealand Supply Chain Resilience Report

We recognise the importance of ensuring New Zealand has resilient supply chains, and through this commitment have sponsored a report into the resilience of New Zealand's supply chain. The report looks into the lessons learned from the West African Ebola outbreak in 2014 and can be found here.

07/05/2015 - General News

FY15 results announcement

Result and final dividend
Z Energy Limited (Z) announced it had delivered a solid result for the year ended March 2015 by
actively managing volatility in both the domestic and global fuel markets.
This equated to a Historical Cost Net Profit After Tax (HC NPAT)1 of $7 million.
Z posted Replacement Cost Operating EBITDAF2 of $241 million, up from $219 million for the prior
corresponding period.
The Z Board has declared a fully imputed final dividend of 16.5 cents per share, which will be paid on
3 June 2015. This brings total dividends to 24.2 cents per share for FY15 and compares to 22 cents
per share for the prior corresponding period.
Integration the key to managing volatility
Z Chief Executive Mike Bennetts said Z had focused on operating as an integrated company to deliver
the result at the top of the guided range.
Mike Bennetts said this had been a year of volatility in which local refining had experienced the most
variable operating environment in 20 years. Also, during the second half of the period, crude oil prices
halved between October and January.
“Our view is that despite these swings, through disciplined margin management, firming volumes by
matching competitor price discounting and running the entire business in an integrated fashion, that
this performance is largely the result of focussed, effective management,” said Mike.
The improvement in refining margins in the second half of the financial year, saw all of Z’s fee floor
payments to the refinery paid back in full before the end of the 2014 calendar year. The refining
contribution to full year earnings was $31 million, up from $24 million in the prior corresponding period.
1. Z’s statutory NPAT earnings are prepared on an historical cost basis as required by NZ GAAP. Earnings prepared on this basis are subject to fluctuations in
the value and volume of stock sold over the period due to changes in oil prices, exchange rates and deliveries.
2. Replacement Cost Operating Earnings Before Interest, Taxation, Depreciation (including gains and losses on the disposal of fixed assets), Amortisation and
Fair Value movements on interest rate derivatives.
3 Queens Wharf
PO Box 2091
Wellington 6140
New Zealand
0800 474 355
z.co.nz
Additionally, the joint crude oil procurement and refining programme between Z and another refinery
customer delivered the projected benefits over the course of the financial year.
Competition, margins, reinvestment
At Z’s half year result announcement in November 2014, the company said the competitive
environment was the strongest in the company’s history.
That dynamic has not changed in the second half of the year with strong local price discounting
continuing to occur – at times up to 35 cents per litre off the national main port price.
“While Z’s commitment to match up and compete on discounted prices has meant that up to 40% of
its retail fuel volume has been discounted, this reduces margins on total retail volumes, however
tactical pricing has firmed the company’s fuel volumes over the second half of the year,” said Mike.
Mike Bennetts acknowledged that over the second half of the financial year there had been a public
conversation around fuel margins and industry profitability in the context of a rapidly falling oil price.
Reporting its results today ensured facts are available for all stakeholders.
“We can understand why there were questions being asked because the only publicly available data
outside of Z’s own disclosures is increasingly inaccurate and ignores most of the elements of a highly
competitive market.
“Z’s full year results were in line with what we forecast in May 2014. They show a moderate gross
margin expansion over the period, an increase in operating costs and a higher replacement cost net
profit after tax – including the growing contribution from Z’s convenience store sales. This is
equivalent to 5.2 cents per litre, up from 4.4 cents per litre in the previous corresponding period.”
Mike Bennetts noted that improved margins were supported by investing $70 million into a variety of
growth and maintenance projects as well as organic growth from selling higher margin products in its
stores and its decisions not to sell large volumes of fuel to commercial customers on uneconomic
terms.
“Z wholeheartedly supports the right of our customers to know how much money we make, and how,”
said Mike Bennetts. “What today’s results show is that Z’s returns are reasonable and consumers
continue to receive fair value from a highly competitive market.”
Z’s Return on Average Capital Employed (ROACE) for the full year was 15%, comparable with returns
generated from other listed retailer companies3.
3. Listed Retailers: Briscoe Group, Kathmandu, Michael Hill, Restaurant Brands, Spark New Zealand and the Warehouse.
Strategy and growth
Z is now a full year into its ‘strengthening the core’ strategy, which will deliver an incremental $40 -
$50 million of RC Operating EBITDAF over its duration, on top of the company’s underlying
performance.
The strategy is focused on delivering customer value through:
• Building new-to-industry retail service stations
• Continuing to develop the tier one retail store offer and customer speed initiatives
• Upgrading the retail tier two store offer
• Delivering benefits through the company’s crude oil and refined fuel supply chains
• Continually optimising the Commercial customer portfolio.
Within the year’s $241 million of earnings, $8 million relates specifically to this strategy which is
expected to be at a run rate of $14 million in FY16.
“A year into this strategy and we are making solid progress to grow the business. Over FY15 we have
completed four new-to-industry retail service stations, rebuilt seven service stations from the ground
up, grown store sales by 11% and now have pay-at-pump options at 120 retail sites,” Mike said.
Z anticipates network growth and a full development pipeline for FY16 with five new-to-industry sites
planned to be built. Three of these will open by the end of July with the remainder over the rest of
the financial year. Z has also taken opportunities to close low volume sites as investment decisions
arose over the year.
“We have renegotiated further price improvements in our refined fuel supply agreements with a
Korean refiner and continue to look within the global market for further supply opportunities.
“Additionally, Z backed the decision to spend $365 million on the Te Mahi Hou upgrade programme
at Refining New Zealand and we look forward to the benefits from this investment which will be
complete in November this year.”
Infrastructure investment
Mike Bennetts said he still held concerns around the lack of resilience in the fuel supply chain and
was committed to leading the response to it.
“One metric we think matters in New Zealand is that since acquiring this company five years ago, Z
has more than doubled the rate of investment in the industry, having spent $316 million of capex over
the last five years,” said Mike.
“Despite the investment that is occurring, more is required – particularly in the context of the forced
closure of some South Island storage tanks. In this context, Z is currently reviewing the resource
consents it holds to build bulk storage terminals at the ports of Lyttelton and Mount Maunganui, with
a particular focus on the Lyttelton development in terms of the security of South Island supply.”
Outlook and guidance
Mike Bennetts said the FY16 financial year would be tightly focused on executing the company’s
growth strategy.
Guidance for the 2016 financial year is for RC Operating EBITDAF between $245 million and $265
million supported by capital investment between $70 million and $90 million.

A year of two halves (following a half of two quarters)

Result and final dividend

Z Energy Limited (Z) announced it had delivered a solid result for the year ended March 2015 by actively managing volatility in both the domestic and global fuel markets.

This equated to a Historical Cost Net Profit After Tax (HC NPAT) of $7 million.

Z posted Replacement Cost Operating EBITDAF of $241 million, up from $219 million for the prior corresponding period. The Z Board has declared a fully imputed final dividend of 16.5 cents per share, which will be paid on 3 June 2015. This brings total dividends to 24.2 cents per share for FY15 and compares to 22 cents per share for the prior corresponding period.

Integration the key to managing volatility

Z Chief Executive Mike Bennetts said Z had focused on operating as an integrated company to deliver the result at the top of the guided range.

Mike Bennetts said this had been a year of volatility in which local refining had experienced the most variable operating environment in 20 years. Also, during the second half of the period, crude oil prices halved between October and January.

“Our view is that despite these swings, through disciplined margin management, firming volumes by matching competitor price discounting and running the entire business in an integrated fashion, that this performance is largely the result of focussed, effective management,” said Mike.

The improvement in refining margins in the second half of the financial year, saw all of Z’s fee floor payments to the refinery paid back in full before the end of the 2014 calendar year. The refining contribution to full year earnings was $31 million, up from $24 million in the prior corresponding period.

Additionally, the joint crude oil procurement and refining programme between Z and another refinery customer delivered the projected benefits over the course of the financial year.

Competition, margins, reinvestment

At Z’s half year result announcement in November 2014, the company said the competitive environment was the strongest in the company’s history.

That dynamic has not changed in the second half of the year with strong local price discounting continuing to occur – at times up to 35 cents per litre off the national main port price.

“While Z’s commitment to match up and compete on discounted prices has meant that up to 40% of its retail fuel volume has been discounted, this reduces margins on total retail volumes, however tactical pricing has firmed the company’s fuel volumes over the second half of the year,” said Mike.

Mike Bennetts acknowledged that over the second half of the financial year there had been a public conversation around fuel margins and industry profitability in the context of a rapidly falling oil price. Reporting its results today ensured facts are available for all stakeholders.

“We can understand why there were questions being asked because the only publicly available data outside of Z’s own disclosures is increasingly inaccurate and ignores most of the elements of a highly competitive market.

“Z’s full year results were in line with what we forecast in May 2014. They show a moderate gross margin expansion over the period, an increase in operating costs and a higher replacement cost net profit after tax – including the growing contribution from Z’s convenience store sales. This is equivalent to 5.2 cents per litre, up from 4.4 cents per litre in the previous corresponding period.”

Mike Bennetts noted that improved margins were supported by investing $70 million into a variety of growth and maintenance projects as well as organic growth from selling higher margin products in its stores and its decisions not to sell large volumes of fuel to commercial customers on uneconomic terms.

“Z wholeheartedly supports the right of our customers to know how much money we make, and how,” said Mike Bennetts. “What today’s results show is that Z’s returns are reasonable and consumers continue to receive fair value from a highly competitive market.”

Z’s Return on Average Capital Employed (ROACE) for the full year was 15%, comparable with returns generated from other listed retailer companies.

Strategy and growth

Z is now a full year into its ‘strengthening the core’ strategy, which will deliver an incremental $40 - $50 million of RC Operating EBITDAF over its duration, on top of the company’s underlying performance.

The strategy is focused on delivering customer value through:

• Building new-to-industry retail service stations

• Continuing to develop the tier one retail store offer and customer speed initiatives

• Upgrading the retail tier two store offer

• Delivering benefits through the company’s crude oil and refined fuel supply chains

• Continually optimising the Commercial customer portfolio.

Within the year’s $241 million of earnings, $8 million relates specifically to this strategy which is expected to be at a run rate of $14 million in FY16.

“A year into this strategy and we are making solid progress to grow the business. Over FY15 we have completed four new-to-industry retail service stations, rebuilt seven service stations from the ground up, grown store sales by 11% and now have pay-at-pump options at 120 retail sites,” Mike said.

Z anticipates network growth and a full development pipeline for FY16 with five new-to-industry sites planned to be built. Three of these will open by the end of July with the remainder over the rest of the financial year. Z has also taken opportunities to close low volume sites as investment decisions arose over the year.

“We have renegotiated further price improvements in our refined fuel supply agreements with a Korean refiner and continue to look within the global market for further supply opportunities.

“Additionally, Z backed the decision to spend $365 million on the Te Mahi Hou upgrade programme at Refining New Zealand and we look forward to the benefits from this investment which will be complete in November this year.”

Infrastructure investment

Mike Bennetts said he still held concerns around the lack of resilience in the fuel supply chain and was committed to leading the response to it.

“One metric we think matters in New Zealand is that since acquiring this company five years ago, Z has more than doubled the rate of investment in the industry, having spent $316 million of capex over the last five years,” said Mike.

“Despite the investment that is occurring, more is required – particularly in the context of the forced closure of some South Island storage tanks. In this context, Z is currently reviewing the resource consents it holds to build bulk storage terminals at the ports of Lyttelton and Mount Maunganui, with a particular focus on the Lyttelton development in terms of the security of South Island supply.”

Outlook and guidance

Mike Bennetts said the FY16 financial year would be tightly focused on executing the company’s growth strategy. Guidance for the 2016 financial year is for RC Operating EBITDAF between $245 million and $265 million supported by capital investment between $70 million and $90 million.

 

06/05/2015 - Sustainability news

Waste Warriors: Z’s environmental super-heroes

In just two months, Z’s “Waste Warriors” competition has diverted 191 tonnes of waste away from landfill – the equivalent of two Olympic sized swimming pools full of waste.

The annual nation-wide competition is designed to help Z’s service station teams become more aware and motivated to reuse, recycle and compost.

Leading the charge was this year’s Waste Warriors winner, Ashleigh Atkinson, and her team from Z Rangiora, who recycled 87 per cent of their waste over the course of the competition.

In second place was Z Palmerston, and Z Te Puke came in third, recycling 84 per cent and 83 per cent of their waste, respectively.

Z’s Sustainability Manager, Gerri Ward, said that when it came to sustainability, long-lasting behavioural change was what was really needed to make a difference.

“At Z we want to do the right thing by New Zealand, so we’ve made a serious commitment to moving from being part of the problem to being at the heart of solutions around sustainability.

“One of the things we’ve been focused on has been to cut the waste sent from our service stations to landfill by 70%.

“We found that there were already a few people within our retail service station network who were really taking the lead on engaging site staff to try and attain our 70% reduction goal with gusto. 

“We decided to tap into this experience across our network, and leverage our retailers and site teams’ keen sense of competition to get them into action on the ground, where it matters most,” said Gerri.

Over a two month period Z service station sites compete against each other to reduce the amount of waste they send to the landfill, each team led by a sustainability champion within the team vying to be named this year’s Waste Warrior.

This is the second year the competition has run and 54 Z stations joined in.

“A bit of healthy competition can lead to extraordinary results, and we’re so impressed and proud of the efforts of Ashleigh and the team at Z Rangiora.

“Ashleigh was so motivated that she undertook research on plastic recycling herself, and challenged the rest of the staff at Z Rangiora to find alternative uses for those things which couldn’t be recycled through the current systems,” said Gerri.

According to recycle.co.nz, about 2.5 million tonnes of waste is buried in landfills in New Zealand each year.

“Landfills take up precious space and we are running out of places to put them,” said Gerri.

Gerri said New Zealanders can learn a lot from the success of the Waste Warrior programme and the need to transform behaviours if we are going to make a real difference. 

”The massive waste reduction by Ashleigh and her team at Z Rangiora required sustainability to be at the forefront of their thinking and required them to consistently separate food waste, general waste and recycling at their site,” said Gerri.

 

01/05/2015 - General News

Vote for your favourite neighbourhood group at Z now

Now is the time for Z customers to vote for what matters most to them in their neighbourhood.  

More than 500 groups doing good in neighbourhoods across New Zealand have been selected to be part of Z Energy’s ‘Good in the Hood’ programme, and customers are being invited to vote for their favourite group from 1 – 31 May at their local Z.   

Through the Good in the Hood programme, Z will contribute more than $1 million to neighbourhood groups and projects that matter the most to its customers.

Every Z service station in New Zealand will be supporting four neigbourhood groups each. These groups will receive a share of $4,000 per station based on the voting of Z customers. A further $1,000 per station has been also set aside for Z’s local retailers to support other neighbourhood projects throughout the year.

Over the month of May, every customer making a purchase at a Z service station (excluding tobacco only purchases) will be given an orange token and invited to physically vote for the organisation they wish to support.

The amount of funding each of the groups receive will ultimately be determined by the number of customer votes they get.

In addition, Z is this year offering an extra $250,000 to help “super charge” 2015 for up to 25 of the neighbourhood groups that have been selected to be part of Good in the Hood. Local customers and Z staff will help to decide how that $250,000 is distributed amongst the groups, and one of the ways that groups can be in with a chance is to poll the highest at a Z site in May.

A list of all the neighbourhood groups selected nationwide can be found on www.z.co.nz/GITHgroups

 

 

 

Sheena Thomas

04 462 4647

 

21/04/2015 - General News

Petrol prices fall as quickly as they rise

Z Energy today released an independent report that shows fuel prices in New Zealand fall as quickly as they rise.
Z Chief Executive Mike Bennetts said following public comment over the last four months that fuel companies were quick to raise prices and slow to drop them, Z had commissioned the New Zealand Institute of Economic Research (NZIER) to update its 2013 report on the topic.
“We understand there’s a high level of public interest around fuel pricing and Z believes our customers and stakeholders deserve impartial and independent facts on the matter.
“I want to be clear that Z had no input into, or review of, this report whatsoever prior to its publication. We felt it was important that there were facts in the public discussion around fuel pricing,” he said.
The report states that “petrol companies pass on oil price decreases to consumers just as quickly as they pass on increases in prices”. The report also notes that “the speed at which oil price changes end up in retail prices – both ups and downs – has accelerated and become more volatile. From a consumer perspective these dynamics are positive. These results suggest that competition has become more robust”.
Mike Bennetts said the last 12 months had seen the most sustained and vigorous competition in the fuel markets in Z’s five year history as a local company.
“Consumers reading this report can be assured the market is highly competitive and that prices rise at the same speed as they fall.”
Mike Bennetts said a further reference point for consumers and stakeholders would be Z’s release of its annual result on May 7.
“We will release to the markets detailed analysis around our profitability and performance. Our financial results will be fully audited and open to the scrutiny of anyone with an interest in this industry,” said Mike.

Z Energy today released an independent report that shows fuel prices in New Zealand fall as quickly as they rise.

Z Chief Executive Mike Bennetts said following public comment over the last four months that fuel companies were quick to raise prices and slow to drop them, Z had commissioned the New Zealand Institute of Economic Research (NZIER) to update its 2013 report on the topic.

“We understand there’s a high level of public interest around fuel pricing and Z believes our customers and stakeholders deserve impartial and independent facts on the matter.

“I want to be clear that Z had no input into, or review of, this report whatsoever prior to its publication. We felt it was important that there were facts in the public discussion around fuel pricing,” he said.

The report states that “petrol companies pass on oil price decreases to consumers just as quickly as they pass on increases in prices”. The report also notes that “the speed at which oil price changes end up in retail prices – both ups and downs – has accelerated and become more volatile. From a consumer perspective these dynamics are positive. These results suggest that competition has become more robust”.

Mike Bennetts said the last 12 months had seen the most sustained and vigorous competition in the fuel markets in Z’s five year history as a local company.

“Consumers reading this report can be assured the market is highly competitive and that prices rise at the same speed as they fall.”

Mike Bennetts said a further reference point for consumers and stakeholders would be Z’s release of its annual result on May 7.

“We will release to the markets detailed analysis around our profitability and performance. Our financial results will be fully audited and open to the scrutiny of anyone with an interest in this industry,” said Mike.

09/04/2015 - General News

Vote for your favourite neighbourhood group in May 2015

Over 500 groups doing good in neighbourhoods across New Zealand have been selected to be part of Z’s ‘Good in the Hood’ programme in May.

Through this programme, Z will contribute over $1 million to neighbourhood groups and projects that matter the most to its customers.

Every Z service station in New Zealand will be supporting four neighbourhood groups each. These groups will receive a share of $4,000 per station based on the voting of Z customers. A further $1,000 per station has also been set aside for Z’s local retailers to support other neighbourhood projects and initiatives throughout the year.

Every customer making a purchase (excluding tobacco only purchases) at a Z station between 1 – 31 May will be given an orange token and invited to physically vote for the organisation they wish to support.

From that point, the votes will be tallied, the results will be announced and the cheques will be presented.

Z’s General Manager of Retail, Mark Forsyth, said that the amount of funding each of the groups receive will be determined by Z’s customers.  

“We want our 210 Z stations to be at the heart of their neighbourhoods so we’re going for a truly local approach which will ultimately be determined by our customers,” said Mark.

“The passion and commitment demonstrated by many of these groups and the amazing work they’re doing in local neighbourhoods is inspiring.”

“The least we can do as a Kiwi company is to give some of these groups the support they need to continue making a difference for New Zealand,” said Mark.

This year, on top of the $5,000 per site, Z will also put up an extra $250,000 nationally to help supercharge 2015 for up to 25 of these locally-selected groups.

Local customers and Z staff will help to decide how that $250,000 is distributed amongst the groups, and one of the ways that groups can be in with a chance is to poll the highest at a Z site in May.

All groups that have applied to be part of Good in the Hood 2015 will have a chance to share in the extra $250,000.

A list of all the neighbourhood groups selected nationwide are listed on the Good in the Hood section of z.co.nz.

01/04/2015 - General News

Z completes $2.8 million network upgrade

Z has today completed its last airfield point-of-sale (POS) upgrade at its Hokitika air stop. The final upgrade marks the completion of a $2.8 million investment across its nationwide network.

The nationwide upgrade makes filling up easier for its aviation customers, with improved invoicing technology and more readable card readers.

Z’s General Manager Commercial, Lindis Jones, says the POS upgrade is a commitment to investing in its aviation network and improving the service it provides its customers.  

 “Our customers told us that filling up was not a great experience and that our card readers were hard to read, so we’ve made things easier. It’s all part of our commitment to listening to what customers are telling us and doing something about it.

“From now on, our point-of-sale will be easier and faster to use while at the same time enabling simplified reporting for our customers”, said Lindis.

The aviation network upgrade is just one of the ways Z is improving its customer service experience. Other examples include Z Card improvements, fuel saving initiatives and network expansion. 

27/01/2015 - General News

Be safe if storing fuel at home

Fuel prices are the lowest they’ve been in five years, but storing fuel at home can be highly dangerous.

Z Energy’s Health, Safety, Security and Environment (HSSE) Manager, Julie Rea, cautions customers to understand the risks before deciding to store fuel at home.

“With fuel prices 47 cents per litre cheaper than they were three months ago, a number of customers have been considering whether or not to fill up their fuel containers while the price is low.

“If you do decide to store a container of fuel at home, for safety reasons we recommend you store only small quantities and make sure that you are using a purpose built, approved fuel storage container. 

“If you choose to hold more than 50 litres, be aware there are additional legal requirements that you must meet,” said Julie.

The Environmental Protection Authority (EPA) provides some useful guidelines on storing fuel on their website, including information on the relevant legal obligations.

The EPA states that fuel can only be stored and transported in approved fuel containers that have an appropriate sealing cap, are made of metal or a durable plastic that won’t react with the fuel and that are clearly labelled to identify the fuel and the potential hazards; and store no more than 50 litres. Full details can be found here: http://www.epa.govt.nz/Publications/Fuel-Containers-at-home.pdf.

“Worryingly, we’ve seen a few customers trying to fill fuel into containers such as soft drink bottles.

“But using an unapproved fuel container is not only illegal, it’s highly dangerous and can put your entire household at risk.

“And given it’s an illegal activity, should something happen, you may not be covered by your insurance provider.

“Fuel products such as petrol are highly flammable – if not stored and handled properly, these sorts of substances can seriously endanger people, property and the environment.   

“As a company committed to safety, we want to make sure that our customers are not putting themselves or their families in a risky position, and in this instance, the risks are simply not worth it.

“So have a look at the EPA website, only use approved fuel containers to store fuel, and don’t store more than 50 litres unless you have all the relevant certifications,” said Julie.

 

 

Fuel storage Do’s and Don’ts:

 

DO

  • Only fill containers that have been stamped to say they are approved to carry flammable liquids, have an appropriate sealing cap, and are made of metal or a durable plastic
  • Place portable fuel containers on the ground and fill slowly
  • Ensure nozzle is touching the container to prevent the build-up of static electricity
  • Store out of sunlight in a cool location
  • Check your legal and insurance obligations

 

DON’T

  • Use containers that are not approved for storing fuel
  • Fill containers on the back of a truck deck, trailer, utility vehicle or in car boots as there is a risk of an explosion from a build-up of static electricity.
  • Leave containers in the back of a car as the container will get pressurised as the petrol heats up
  • Store more than 50 litres without the  relevant certifications
  • Store for more than three months - petrol is not suitable for long term storage

 

This summary is intended to be guidance only. We recommend you always check your legal obligations before using portable fuel containers and storing fuel.

 

 

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