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Oil and Gas Extraction in New Zealand Industry Data and Analysis
Producers have faced volatile operating conditions over the past five years. The industry's small size on a global scale and concentration in the Taranaki region make it feasible for a small number of firms to hold a significant market share. Fluctuations in crude oil prices and energy demand have significantly shaped producers' performance. Declining industry production volumes and weaker pricing because of pandemic-related travel restrictions weighed heavily on industry revenue in 2020-21. Surging oil and gas prices, driven by a strong recovery in demand and supply disruptions, supported rebounding industry revenue over the two years through 2022-23. As supply conditions normalised, the softened oil prices have squeezed oil producers' revenue expansion. Gas producers are also contending with the offshore exploration bans, mounting regulatory pressures, contracting production volumes and ageing fields, compounding this slump. Overall, industry revenue is expected to have fallen at an annualised 1.8% over the five years through 2025-26, to $2.2 billion. This includes an expected decline of 4.2% in 2025-26 as oil prices abate and production volumes continue to fall. These factors are also expected to hamper operators' profitability.
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What's included in this industry analysis
IBISWorld's research coverage on the Oil and Gas Extraction industry in New Zealand includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Oil and Gas Extraction industry in New Zealand operates under the ANZSIC industry code B0700NZ. Industry firms mainly produce crude oil, natural gas or condensate by extracting oil and gas deposits. These companies may also treat natural gas to produce purified natural gas or liquefied hydrocarbon gases or operate natural gas absorption or separation plants. Some industry firms also produce liquefied natural gas and liquefied petroleum gas. Related terms covered in the Oil and Gas Extraction industry in New Zealand include natural gas, crude oil and geothermal.
What's included in this industry?
Products and services covered in Oil and Gas Extraction industry in New Zealand include Offshore natural gas extraction, Onshore natural gas extraction and Crude oil extraction.
What companies are included in this industry?
Companies covered in the Oil and Gas Extraction industry in New Zealand include Todd, OMV New Zealand and Greymouth Petroleum.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Oil and Gas Extraction industry in New Zealand.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Oil and Gas Extraction industry in New Zealand.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Oil and Gas Extraction industry in New Zealand.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Oil and Gas Extraction industry in New Zealand. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Oil and Gas Extraction industry in New Zealand. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Oil and Gas Extraction industry in New Zealand. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Oil and Gas Extraction industry in New Zealand. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Oil and Gas Extraction industry in New Zealand.
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Frequently Asked Questions
What is the market size of the Oil and Gas Extraction industry in New Zealand in 2026?
The market size of the Oil and Gas Extraction industry in New Zealand is $2.2bn in 2026.
How many businesses are there in the Oil and Gas Extraction industry in New Zealand in 2025?
There are 32 businesses in the Oil and Gas Extraction industry in New Zealand, which has declined at a CAGR of 3.9 % between 2020 and 2025.
How may import tariffs affect the Oil and Gas Extraction industry in New Zealand?
The Oil and Gas Extraction industry in New Zealand is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Oil and Gas Extraction industry in New Zealand?
The Oil and Gas Extraction industry in New Zealand is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Oil and Gas Extraction industry in New Zealand grown or declined over the past 5 years?
The market size of the Oil and Gas Extraction industry in New Zealand has been declining at a CAGR of 1.8 % between 2020 and 2025.
What is the forecast growth of the Oil and Gas Extraction industry in New Zealand over the next 5 years?
Over the next five years, the Oil and Gas Extraction industry in New Zealand is expected to decline.
What are the biggest companies in the Oil and Gas Extraction industry in New Zealand?
The biggest companies operating in the Oil and Gas Extraction industry in New Zealand are Todd, OMV New Zealand and Greymouth Petroleum
What does the Oil and Gas Extraction industry in New Zealand include?
Crude oil extraction and Offshore natural gas extraction are part of the Oil and Gas Extraction industry in New Zealand.
Which companies have the highest market share in the Oil and Gas Extraction industry in New Zealand?
The company holding the most market share in the Oil and Gas Extraction industry in New Zealand is Todd.
How competitive is the Oil and Gas Extraction industry in New Zealand?
The level of competition is high and steady in the Oil and Gas Extraction industry in New Zealand.
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