Refinery competitiveness under the spotlight

Refining NZ has “a lot” of scope to improve the competitiveness of its Marsden Point facility and doesn’t need to rush the strategic review it has kicked off, chief executive Naomi James said.The country’s sole oil refinery is not unique among New Zealand and Australian manufacturers in having to compete with often state-funded rivals in low-cost Asian economies, she said.The firm’s assets and capabilities give it options longer-term and the plant is already being operated to maintain a cash-neutral position for the rest of this year.She said t...