Refining NZ margins jump to 18-month high

Wed, 18 Sep 2019

By Gavin Evans Sept. 18 (BusinessDesk) - Processing margins at the Marsden Point oil refinery jumped to an 18-month high after the closure of a key US refinery and unplanned outages at plants in Asia. Refining NZ says it earned an average US$7.10 on each barrel of crude oil it processed in July and August. That was up from US$4.36 in May and June, and US$6.86 a year earlier. It was the highest gross margin the refinery reported since early 2018. That saw the firm’s processing fees jump to $56.2 million, from $32.2 million in the preced...

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