NZ Refining earns record fees as throughput jumps to all-time high; shares gain

Mon, 18 Jan 2016

By Tina Morrison Jan. 19 (BusinessDesk) - Shares in New Zealand Refining jumped after the operator of the country's only oil refinery earned its highest ever fee last year as it processed a record number of barrels. The Whangarei-based company's customers paid it a record processing fee of $378.7 million last year, on throughput of 42.6 million barrels, ahead of expectations for 40.8 million barrels, it said in a statement. Its gross refining margin for November and December jumped to US$10.82 per barrel, from US$9.91 a barrel in the fir...

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