New Zealand Refining wants to play a greater role in the future of the country's energy development but warns rising demand cannot be met solely from renewable resources.
The country's only refinery is celebrating its 50th anniversary this week.
New Zealand Refining chief executive Ken Rivers says oil and gas will remain key resources to drive production and develop new products.
He says world energy demand will probably double by 2050, while the most optimistic estimate is that renewable energy will go from 1% of global energy demand to 30%.
Mr Rivers says that means there will be a huge gap to close, so fossil fuels still have a future.
He says the transportation sector will be dominated by oil and companies such as New Zealand Refining will continue to be a significant part of the energy mix for the foreseeable future.
Some in the business community have argued the introduction of the Emissions Trading Scheme will hurt the economy and should be slowed down.
Mr Rivers disagrees, however, saying firms should be doing more and industry leaders need to step up.
