Import terminal less risky than refinery – independent adviser

The refinery's directors want to transition to an import terminal from next year. (Image: Supplied)

Mon, 05 Jul 2021

New Zealand Refining shareholders will face fewer risks and benefit from more reliable dividends if the Marsden Point operations switches to an import terminal next year.That’s the assessment of independent adviser Grant Samuel, which considers the alternative of running a pared-back refining operation until 2035 as “sub-optimal for Refining NZ and its shareholders”.While the refinery potentially generates bigger earnings than what’s predicted for an import terminal, it also chews through more cash in maintaining and upg...

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