Energy

Covid canes Mobil and BPs' NZ subsidiaries

Ian Llewellyn
Wed, 02 Jun 2021

Petrol costs were down, but so were sales in 2020
Ian Llewellyn
Wed, 02 Jun 2021
Two of New Zealand’s largest petrol retailers have reported losses in the wake of the covid pandemic.Exxon Mobil NZ said it had made an operating loss after tax of $157 million in 2020, turning around a profit of $70m in the prior year. BP NZ said it lost $105m compared to a profit of $135m in the prior year.Both were reporting to the Companies Office for calendar 2020, a year dominated by the pandemic and the related lockdowns.During those times, particularly the first extended nationwide lockdown, traffic volumes dropped to virtually ze...

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