[5] Z Energy currently competes with BP, ExxonMobil subsidiary Mobil NZ and several smaller independent groups such as Gull New Zealand.

After surveying 17,000 customers the following year, the company changed its name to Z Energy Limited and branded the service stations as Z.

[10] Following the re-branding and after adding five new service stations, the market share for petrol held by Z Energy slipped from 31.6% in 2011 to 29.0% in 2013.

[11] Following the change in ownership, the firm has employed more New Zealanders in positions that were previously outsourced overseas including: IT,[12] finance and call centre services.

[9] Z Energy had $430 million of retail bonds at March 2013, up from zero debt in 2010 when Infratil and NZ Super Fund acquired it.

This value was almost four and half times the net cash outlay by Infratil and NZ Super Fund to acquire it three years earlier.

The IPO prospectus showed that Z Energy expected to declare total dividends to shareholders equivalent to 6 cents per litre of fuel sold in 2013–14.

Z Energy purchased the 17.1% stake in NZ Refining for $100 million from Infratil and New Zealand Superannuation Fund after the IPO.

[11] That market value is almost four and half times the net cash outlay of $320 million by Infratil and New Zealand Superannuation Fund to acquire Z Energy in 2010.

[11] As the basis for Prospectus forecasts, Z Energy's profit margin was expected to increase by 1.2 cents per litre in 2013–14.

In addition, Z Energy paid $70 million in dividends to Infratil and New Zealand Superannuation Fund earlier in the 2013–14 year.

The acquisition agreement was signed on 2 June 2015 at a cost of NZ$785 million and would have to be approved by the Overseas Investments Office (OIO) and the Commerce Commission.

[22] In August 2021, Australian fuel company Ampol launched a takeover bid for Z Energy for NZ$2 billion.

Z Energy supplies 210 branded service stations and commercial, aviation, marine, chemical and bitumen clients.

The company also manufactures surfactant chemicals operates coastal oil tankers, tank farm terminals and a mobile refueller.

[25] Z Energy acquired a stake in this joint venture established in March 1999 by Mobil, BP Oil, and Shell NZ.

[17] In August 2011, an advertisement by Z Energy sparked outrage through the depiction of 'New Zealand'-looking people stripping call centre equipment off 'Asian'-looking workers.

[26] Mike Bennetts subsequently apologised and Z Energy released a new advertisement showing a diverse range of actors.