New Zealand Boosts Diesel Reserves, Secures Trade Deal

New Zealand bolsters diesel reserves, securing 90 million litres, to safeguard against potential global fuel shortages, particularly due to Strait of Hormuz disruptions. The government, led by the Prime Minister, views this as an insurance policy, adding nine days worth of diesel to existing reserves. Z Energy, chosen through a competitive process, will manage procurement and storage at Marsden Point. The deal, lasting until December with an extension option, sets New Zealand apart from Australia, which has six to seven days supply. The Prime Minister also travels to Singapore to finalize a trade agreement, ensuring continued fuel exports in exchange for maintaining food exports. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/6d830ada8db305fc