Z Energy
Z Energy Logo
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| Z | |
| Dual Listed Public Company | |
| Traded as |
NZX: ZEL ASX: ZNZ |
| Industry | Oil and Gas |
| Predecessor |
Shell New Zealand Limited (1911-2010) Greenstone Energy Limited (2010-2011) |
| Founded | 1911 in Auckland, New Zealand as Shell New Zealand Ltd |
| Headquarters | 3 Queens Wharf, Wellington, 6011, New Zealand |
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Number of locations
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305 (2016) |
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Area served
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New Zealand and Australia |
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Key people
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| Products | Diesel, Petrol and Oil |
| Services | Fuel Stations |
| Revenue |
 $2,521,000,000 (2016) |
| Total assets |
 $1,394,000,000 (2016) |
| Total equity | $2,328,000,000 (2015) |
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Number of employees
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2500 (2016) |
| Subsidiaries |
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| Website | z |
Shell New Zealand Limited (1911-2010)
Z Energy (NZX: ZEL) is a New Zealand fuel distributor with branded service stations. It comprises some of the former assets of Shell New Zealand. Since mid-August 2013, it has been listed on the NZX with the code ZEL. The largest shareholders were Infratil and the New Zealand Superannuation Fund, each with 20%. It is also listed on the ASX with the code ZNZ. Shell exited the New Zealand fuel distribution business in April 2010, selling its operations to Infratil and NZ Super. The former Shell operations were rebranded as Z Energy in 2011.
Shell exited the fuel distribution market in New Zealand in 2010. Shell and its assets including a 17.1% stake in listed Refining NZ were acquired by Infratil and the New Zealand Super for $891 million. However the Taranaki based exploration and production division were not part of this sale portfolio.
Z Energy currently competes with BP, ExxonMobil subsidiary Mobil NZ and several smaller independent groups such as Gull. Former competitors include Chevron subsidiary Caltex of which Z Energy acquired in June 2016.
Initially, in 2010 the branding remained as Shell whereas the holding company was renamed from Shell NZ to Greenstone Energy. In May 2011, after surveying 17,000 customers, the company was renamed Z Energy Limited and the service stations simply branded as Z. The rebranding exercise is believed to cost around NZ$60m, compared to the NZ$10m/year cost of licensing the Shell brand. The company said it would focus on better forecourt service and better food.
Following the re-branding and after adding five new service stations, the market share for petrol held by Z Energy slipped from 31.6% in 2011 to 29.0% in 2013.
Following the change in ownership, the firm has employed more New Zealanders in positions that were previously outsourced overseas including: IT, finance and call centre services.
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Wikipedia