Z Energy says ending oil refining will free up $150m

Z Energy supports the end of oil refining in NZ (Image: Wikipedia))

Mon, 19 Jul 2021

The end of oil refining at Marsden Point will free up $150 million of working capital for Z Energy, the country’s largest petrol retailer said.Z’s quarterly operating update reiterated the company’s support for the NZ Refining Company to become just an importer of refined oil products.“The conversion of Refining NZ to an import terminal, with Z exiting the crude oil supply chain, will free up approximately $150m of working capital which will be used to fund deleverage and transition to a low carbon future,” the com...

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