Fuel retailers pump $118m into refinery

Refining NZ says it can't compete with international refineries (Image: Supplied)

Thu, 22 Jul 2021

Refining New Zealand’s customer shareholders have paid about $118 million to the company over the past 18 months after covid-19 hit, with much of that figure due to low margins.The company said in its last operating report it had received $2.9m from Mobil, Z Energy and BP in May and June. Refining NZ confirmed to BusinessDesk the total paid by the three companies since covid is about $118m in fee floor payments due to low margins and the collapse in demand for aviation fuel.The three fuel retailers pay the refinery tolling fees based on S...

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