NEW ZEALAND

Genesis keeps Kupe, exits other upstream assets

NEW Zealand gas and electricity player Genesis Energy is exiting all its upstream interests except for its 31% stake in the offshore Taranaki Kupe field, following other major gas users that have trimmed their upstream operations.

Three years after significantly expanding its upstream team - creating a fuels development unit, primarily because of its Kupe involvement - the government-owned integrated energy company is cutting back...

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