Does Z Energy have a future?
Our guest speaker this week was Chris Durno, formerly of OPUS, the London Underground, and Kiwirail, and now chief strategist at Z Energy, where he has been for seven years. He is a personable Canterbury-trained engineer and therefore can turn his hand to anything, including finance, marketing and branding.
Z is a dominant player, and heavily invested, in the fuels industry. It imports, refines (via Marsden Point), stores, distributes and sells about 45% of fuels used in New Zealand. It has an unrivalled network of service stations, now including Caltex. It is going to great lengths to make its core business as efficient as possible.
Z is in a sector that has changed little in the last 100 years. The auto industry has traditionally been closely tied to the oil fuel sector. But change is coming: there is a drive towards renewable energy and electric vehicles. By the late 2020s EVs will be as cheap to buy and cheaper to run than internal combustion types. By 2040, 50% of annual sales and 40% of the national fleet will be EVs.
So the problem facing Z is that the demand for oil fuel, its core product, is falling. Fuel sales peaked in 2018 and have now entered a period of steady decline.
Z’s response is twofold: to increase its share of the declining fuel market, and to invest in new products and services outside its traditional core business.
Z will, for example, sell more coffee and give quicker service to forecourt customers. The ‘customer experience’ will improve.
More importantly, Z will start to invest outside its current position. Targets are ‘future fuels’, (biofuels, fuel cells etc), electricity trading (Z has bought Flick), and ‘mobility as a service’. Presumably the latter includes ride sharing and autonomous vehicles.
Z will have to reinvent itself to survive. This is a big challenge and they will face stiff competition from new and specialist players. Good luck!
Six tips for improving security around your home
1) Improve outdoor lighting
Ensure that streets, driveways, and front yards are well-lit. Motion-sensor lights around homes deter trespassers by reducing hiding spots and illuminating their movements.
2) Trim your trees
Overgrown shrubs and trees provide cover for intruders. Keeping them well-trimmed around windows and doors improves visibility and reduces potential hiding spots.
3) Secure Entry Points
Ensure doors, windows, and gates are always closed when you are away from the house. Upgrade to more secure locks, deadbolts, or even smart locks for added protection.
4) Add a security camera
Place security cameras in the main entry points to your home. Doorbell cameras are also relatively cheap and a great way to keep track of who is visiting your home when you aren't there.
5) Start a Neighborhood Watch Program
You could reach out to members on Neighbourly to form a group of neighbors who can regularly keep an eye out for suspicious activity and report it. You could also check with Neighbourhood Support to see what is existing in your area.
6) Introduce yourself to your neighbours
The closer you are to your neighbors, the more likely they’ll notice when something unusual or suspicious is happening around your property
Feel free to share anything that you do around your area to deter crime.
Poll: Is dumping an issue in your neighbourhood?
There's nothing worse than strolling around the streets in your neighbourhood and seeing dumped rubbish.
Have you noticed this in your area? What could we do to combat this around the country?
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43% Yes, I've seen some illegal dumping
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56.4% No, our neighbourhood is pretty good
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0.6% Other - I'll share below
Today’s riddle: For all the curious minds next door!
My thunder comes before the lightning.
My lightning comes before the clouds.
My rain dries all the land it touches.
What am I?
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