Refining NZ raises $39m to expand storage

Refining NZ raises $39m to expand storage
Refining NZ raised money to expand storage as the end of refining draws closer. (Image: Getty)
Ian Llewellyn
Refining New Zealand has completed a $39 million share placement to fund the expansion of refined oil storage at Marsden Point.The company believes providing more storage will be a growth area when it ends oil refining and moves to an import-only model under the Channel Infrastructure brand.The government’s consideration of strategic oil reserve policy is another potential area of growth. Especially if this means increasing the amount of petrol, diesel and other oil products that are required to be stored in the country to give more breat...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024