Mobil Oil New Zealand Limited has formally withdrawn its applications to the Commerce Commission for clearance to acquire up to 100% of Z Energy Limited's ownership interest in two assets used to supply jet fuel at Auckland International Airport: the Wiri to Auckland Pipeline (WAP) and the Auckland Airport Joint User Hydrant Installation (JUHI).
The Commission had recently agreed with Mobil an extension until 16 August by which to make a decision.
The Commission's case register will be updated in due course.
Background
The WAP delivers jet fuel to Auckland International Airport from the storage facility at Wiri, which is then stored at the Airport at the JUHI. The assets are currently jointly owned and operated by Mobil, Z and BP Oil New Zealand Limited under the terms of two separate joint venture agreements. If Mobil acquired all of Z's ownership interest, it may have become the majority owner of both assets.
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market. Further information explaining how the Commission assesses a merger application is available on our website.
