NZ | Economy Thread

[Marky Mark]

Originally Posted by ENIGMA

You don't see the point of this thread and I don't see the point of you raining on my parade ?? Like I said before, ignore it .. trolling through this thread must take up most of your day and what I do with my time has got nothing to do with you.

P.S. I never said that you said that NZ wasn't doing well ?? Don't be so insecure. I appreciate your input and I am thrilled that you are interested in the NZ economy. It will be great to have you on board and I am sure that you can teach me alot.

This thread is going to stay POSITIVE ! that is that !

Its great to see , don't worry about a Fine Wine alcoholic from Aussie who is lost between two cities and a Globocentric who has No city or Country to his Name to be Proud of !

[Marky Mark]

Originally Posted by TonyNZ

holly crap i was just watching the news and apparently 680 kiwis leave our shores for Australia every week thats 35,360 kiwis a year. depressing is it not?...

Country of Birth of these so called Kiwi's leaving NZ , I think you will find a Large proportion are using NZ as a back door to Aussie ! I have a couple of Mates whom work in Box Hill , a very Asian populated Burb in Melbourne , the number of customers trying to open accounts with NZ passports is huge , and alas these Kiwis speak very little English

[flyin_higher]

Well Tony you will have to put your foot down and get ur ass back to NZ! lol

[SYDNEY]

Thanks for the support boys I have read that more Australians move to New Zealand than Kiwi's move to Oz - I will try to find the article .... At one point we were thinking of moving to Oz NOT for economic reasons (our life-style and quality of life is the envy of many here in New Zealand and in South Africa) but for the weather ... we love this country so much (and thank God we are not up America's backside) that we have decided to make the weather work for us .. come winter 2007 we will visit Australia's hot spots and The Pacific Islands. We are here to stay and I can't wait to receive my Kiwi Passport (we will celebrate until the cows come home)

[Marky Mark]

Originally Posted by KIWIKAAS

Agreed. Few people I know actually move to Australia for economic reasons (although this is offen portrayed as such in the media). Climate and citylife are generally the drawcards.

When I left for Melbourne , big Citylife and a Relationship were the reasons , as you say Kiwikaas and Propertyboy it had nothing to do with economics .
It is a general Kiwi Progression , to live and travel overseas , just as the thousands of Aussies whom live and work in England and around the World do.:

[shrewd.user]

let's not let this get into an oz vs nz thing...

but it is kind of weird to only post good news... :S

[TonyNZ]

Originally Posted by flyin_higher

Well Tony you will have to put your foot down and get ur ass back to NZ! lol

Well im only 16 but when im old enough and finacially stable i will most definately come back to New Zealand.

[SYDNEY]

Originally Posted by shrewd.user

let's not let this get into an oz vs nz thing...

but it is kind of weird to only post good news... :S

Agreed - and I support the "weird" option. I have always been "different"

[SYDNEY]

Drilling of Cheal oil wells begins

1.00pm Wednesday October 11, 2006

Drilling of the first development well in the Cheal oil field in Taranaki started yesterday, Austral Pacific Energy said today. The field is located in Petroleum Mining Permit 38156 in the onshore Taranaki Basin. Austral Pacific holds a 36.5per cent interest in the field and is the operator.

The Cheal B1 well is the first of four wells to be drilled back-to-back from the Cheal B site as part of the Cheal oil field development. The Cheal B wells are planned to intersect Mt Messenger and Moki targets identified from 3D seismic data. Austral chief executive Rick Webber said the start of drilling was significant.

"The Cheal Joint Venture has put in a place a development programme which will deliver oil production of approximately 1000 barrels a day during the first quarter of 2007, rising to approximately 1900 barrels a day during Q2 2007."

An independent reserves estimate put the probable and possible remaining reserves at 4.4 million barrels of oil for Cheal. The start of drilling from Cheal B comes less than three months after the partners approved the development of the field and follows the award of the mining permit in July.

The permit allowed for production from Cheal for an initial term of 10 years with a right to extend the duration of the permit following the delineation of further reserves. Total spending is budgeted at $25 million. After drilling the Cheal B wells, the Ensign Energy Services Rig 19 will be moved to the Cheal A site to drill two further development wells. Existing wells will be reworked in December.

Austral Pacific's share of the development costs is $9.1m. The other joint venture participants are TAG Oil (NZ) and Arrowhead Energy. Production from Cheal started in July at rates up to 300 barrels per day. The first oil from the field's permanent production facilities was expected to be available in the first quarter of 2007.

[flyin_higher]

Originally Posted by TonyNZ

Well im only 16 but when im old enough and finacially stable i will most definately come back to New Zealand.

Oh right 16, I thought you were abit older than that. Fair enough, NZ will be glad to have you back!

btw, looks like you and aucklandman will be battling it out for youngest of the forum lol. Well, youngest but certainly not least-intelligent.

[Kane007]

Originally Posted by ENIGMA

Drilling of Cheal oil wells begins

1.00pm Wednesday October 11, 2006

Drilling of the first development well in the Cheal oil field in Taranaki started yesterday, Austral Pacific Energy said today. The field is located in Petroleum Mining Permit 38156 in the onshore Taranaki Basin. Austral Pacific holds a 36.5per cent interest in the field and is the operator.

The Cheal B1 well is the first of four wells to be drilled back-to-back from the Cheal B site as part of the Cheal oil field development. The Cheal B wells are planned to intersect Mt Messenger and Moki targets identified from 3D seismic data. Austral chief executive Rick Webber said the start of drilling was significant.

"The Cheal Joint Venture has put in a place a development programme which will deliver oil production of approximately 1000 barrels a day during the first quarter of 2007, rising to approximately 1900 barrels a day during Q2 2007."

An independent reserves estimate put the probable and possible remaining reserves at 4.4 million barrels of oil for Cheal. The start of drilling from Cheal B comes less than three months after the partners approved the development of the field and follows the award of the mining permit in July.

The permit allowed for production from Cheal for an initial term of 10 years with a right to extend the duration of the permit following the delineation of further reserves. Total spending is budgeted at $25 million. After drilling the Cheal B wells, the Ensign Energy Services Rig 19 will be moved to the Cheal A site to drill two further development wells. Existing wells will be reworked in December.

Austral Pacific's share of the development costs is $9.1m. The other joint venture participants are TAG Oil (NZ) and Arrowhead Energy. Production from Cheal started in July at rates up to 300 barrels per day. The first oil from the field's permanent production facilities was expected to be available in the first quarter of 2007.

1900 barrels a day sounds a lot, but, does anyone know what NZ's barrel per day demand is? Should help to put this into perspective.

[SYDNEY]

^ I have no idea - Flyin should know ??

[Neitzsche]

Originally Posted by Kane007

1900 barrels a day sounds a lot, but, does anyone know what NZ's barrel per day demand is? Should help to put this into perspective.

151,900 bbl/day (2003 est.)

So 1900 is ass all really. Useless fact but Ghawar, the giant feild in Saudi Arabia and by far the largest feild known to exist on the planet pumps out around 5,500,000 bbl/day. Over half of all saudi oil output.

[flyin_higher]

Yea, and the world as a whole uses 85,000,000 barrels a day!

[SYDNEY]

Satellite launches TV without rain fade

Saturday October 14, 2006

Farewell to rain fade, two minutes before the end of a crucial test match - and hello, Optus D1, more channels and high-definition television. The new Optus D1 satellite is due to launch into orbit this weekend from French Guyana, and will provide Sky TV with more power, meaning more channels and less chance of rain fade.

TVNZ's current limited digital service will also transfer to the new satellite and Optus D1 will house the new free-to-air digital service, Freeview, which so far includes TVNZ, TV3 owner CanWest, the Racing Board, Radio New Zealand and Maori TV. Sky spokesman Tony O'Brien said the change to Optus D1 from the old Optus B1 would take place in about four weeks, after the satellite was tested in orbit.

"In essence, it means greater capacity, so there will be more services and channels. Secondly, because the satellite is more powerful, it means less rain fade or loss of signal because of the weather." The Optus D1 satellite will increase Sky's channel capacity by 25 per cent and gives the company the chance to add further channels and services in future. It currently has 85 channels, including audio and interactive.

Future services would include high-definition programming by 2008. The loss of coverage due to weather was already "very rare" on Optus B1. "If we've had a weather bomb in Auckland, you've got 40 per cent of New Zealand's population in the one spot. So of course rain fade is going to seem worse than it is." On other occasions, the "rain fade" message was programmed to come up automatically when the signal was interrupted for reasons such as maintenance.

Mr O'Brien said the transition of Sky's signal from Optus B1 to Optus D1 should be "seamless" and viewers were unlikely to notice it. The new satellite will also host up to 18 channels for Freeview broadcasters, expected to be launched either late this year or early next year. Broadcasters are yet to announce what new channels will be on offer. If it gets sufficient government funding, TVNZ is widely expected to have two new channels, including a 24-hour news channel, by the time digital television is launched.

CanWest - owner of TV3, C4 and RadioWorks - plans to launch two additional channels by 2008. Sky launches the DOCUMENTARY CHANNEL on 10 November 2006.

[new zealander]

Hmm... I just went though HAYS recruting web site and looked at their salary survey http://www.hays.com.au/salary/default.aspx - I cannot see that famous 35% gap in salary between Oz and NZ.
IT industry http://www.hays.com.au/salary/pdfs06...Technology.pdf
Construction http://www.hays.com.au/salary/pdfs06...onProperty.pdf
Banking http://www.hays.com.au/salary/pdfs06/Banking.pdf
For full list please see http://www.hays.com.au/salary/default.aspx - I trust these guys, they work with these industries and they are pretty much in range for Sydney. (By the way I left NZ NOT for economical reasons - just my partner is musician and she requires a big population. And eventually I am planning to come back to NZ). So, what did I miss with 35% salary gap between Oz and NZ?

[OverseasKiwi]

if you want to know the salary gap just find the average wage for Aus and NZ (adjusted for PPP of course)

which is... (in USD)

NZ GDP per capita (PPP) 25,500 for 2005
AUS GDP per capita (PPP) $31,900 for 2005

Thus approximately a 25% wage increase over NZ. AND you can buy more for the same amount of cash in australia than new zealand. Add to the fact that their tax rates are lower, nice climate, better employment, its not suprising many of us go to Australia. My best mate of 10 years who is still in NZ is going to australia because he got offered a better paycheck (something like 30% more, in Auzzie $) Sad thing is, he is a Bio-chemical engineer, a trade in which NZ should be specializing, but is not doing enough to retain its skilled workers.


Oh If you want to know what it is now, you can estimate it by adjusting the figures with this years exchange rates (though given the world current economic situation, it would be false as the figures have already been adjusted for PPP)

[Neitzsche]

[QUOTE=OverseasKiwi;10117087]if you want to know the salary gap just find the average wage for Aus and NZ (adjusted for PPP of course)

which is... (in USD)

NZ GDP per capita (PPP) 25,500 for 2005
AUS GDP per capita (PPP) $31,900 for 2005 QUOTE]

Could anyone correct me on this? I was having a chat to a mate about the difference in GDP per capita, something NZ enjoyed a higher level of until the 70's when mother England joined the Euro common market. He explained as such - While part of the reason was OZ being quick at establishing other trading links the main reason for the higher GDP is the mineral industry. Apparently the extra money brought into the country by mining operations equates to a similar amount to the difference in GDP per capita and almost a quater of OZ's wealth comes out of WA. Because the wealth comes in from concentrated industries it doesn't trickle down to all areas of the economy - hence the wage gap isn't as bad as some statistics make out. Kindda makes sense but not my forte. Thoughts anyone?

[Kane007]

Looks a lot like Trickledown Economics or Reaganomics at work. Definately works well in Australia, just take a look at the Aboriginal situation or Cabramatta or The Block in Redfern.

Yep if Bill Gates earns another US$10 billion this year then that definately means the US GDP per capita just increased a further US$33!

[Marky Mark]

Would like to see some more figures myself ............Overseaskiwi ? the statement " you can buy more for the same amount of Cash " in Aussie , do you have the figures there ?
Being in the housing / building market in Melbourne , we deal with alot of immigrants , mainly from the UK lately , we have had several sales fall through recently , from immigrants deciding to return home , they say the only item that Australia lived up to , was plenty of sunshine LOL their promised income , wasn't what was promised { included a large proportion of super , that they don't see until in a wheelchair } and alot of other items thrown in to make the package attractive , but wasn't actually cash in hand ....
Actually thats a good point , most Salary Packages here include a chunk of super which is compulsary , say mine as an example 12 % , its a good thing I guess , but its not cash in hand until retirement .