Company Profile & Strategy

Our ambition is to be a world class Kiwi company.

Z was formed when Infratil and the New Zealand Superannuation Fund bought the NZ downstream business from Shell in 2010. Since then Z has emerged as a local business success story.

Our operations span crude oil and refined product procurement, contracted refining, national distribution and commercial and retail marketing. We currently supply approximately 45 percent of all transport fuels in New Zealand; petrol, diesel, jet fuel, bitumen and fuel oil.

In 2013 we listed on both the New Zealand Stock Exchange (NZX) and the Australian Stock Exchange (ASX). We are a NZX10 company – subject to continuous disclosure rules of both exchanges. We also have four retail bonds on offer on the New Zealand Debt Exchange (NZDX). In October 2015 our cornerstone shareholders reduced their holdings from 40% to 10% so Z is now fully floated. 

Z acquired the Caltex New Zealand business from Chevron in June 2016 which gave us exclusive wholesale supply to the Caltex independently owned and operated retail network and nationwide truck stops around New Zealand. With the acquisition of Caltex, Z now supplies just under half of the New Zealand fuel market across both networks.

Z owns 15.1 percent of New Zealand Refining (NZR) as well as 11 terminals and four joint venture terminals in nine port locations around New Zealand and a 50 percent holding of Coastal Oil Logistics Limited (COLL).

We are a focused, locally managed and operated downstream New Zealand fuels business not integrated with any upstream oil / gas producer. All decision-making and governance functions are in-country and seeks to behave as a distinctively transparent, values-based Kiwi company.

Z is proud to be a company that contributes to the New Zealand economy and community. We respond to what our customers want while also rewarding our investors for their belief in us.


Our purpose is to solve what matters for a moving world.

Z’s strategy is to build a more productive core business as we explore what the future looks like in a VUCA (volatile, uncertain, complex, and ambiguous) world.

We recognise that our future is more about being capability-led, rather than asset- or investment-led. Our strategy is less about what we’ve got and more about how we do things.

We’ve got the hydrocarbon-related assets we need for a strategic advantage. Now we’re investing in capability – customer experience, productivity, innovation, digitisation and brand. These capabilities will support us in building a more productive core business this side of 2021 and will drive our choices for what is next beyond 2021.

We’re recycling capital from assets we no longer need so that we can experiment with new options for our customers. Any growth investments in our core business are funded from divestment proceeds rather than free cash flow.

We’re experimenting with future-focused innovation to deliver distinctive customer experiences that drive loyalty of all our customers. We aim to reduce investment risk and time to market by innovating and experimenting using human centred design tools. We are focusing our experiments on three adjacencies for alternative or replacement revenue streams, namely future fuels, mobility and the ‘last mile’.