Subscribe today - find out more
Why you should consider BusinessDesk

Power cut, tanker rates push Refining NZ margins to 5-yr low

Gavin Evans
Tue, 21 Jan 2020

Gavin Evans
Tue, 21 Jan 2020
Margins at the Marsden Point refinery fell to a five-year low in 2019, compounded by a power cut in November and high tanker costs late in the year.The country’s sole oil refinery processed a record 42.69 million barrels of crude, up 5.5 percent from the year before, but its average margin on every barrel processed fell to US$5.34 from US$6.31 the year before.That was the lowest annual figure since 2014 and saw the firm’s processing fee revenue fall 6.5 percent to $242 million, also a five-year low.Much of the damage was done in the November/De...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Wake Up Call: Covid testing for the Auckland border
Staff reporters | Fri, 17 Sep 2021

 Sites have been set up near border crossings for workers to pick up and drop off saliva tests.

Bar owner borrowed $30k to cover wage subsidy delays
Michael Andrew | Fri, 17 Sep 2021

Shaneel Sudhakar faced a 22-day delay in payment of the wage subsidy.

Bridgecorp’s death knell a timely warning
Paul McBeth | Fri, 17 Sep 2021

A new generation of investors would do well to wander through the corporate graveyard of yesteryear.

Demand driven change an easier route to carbon reduction

Taking a demand-driven approach to carbon reduction will naturally bring us into line with government targets.

Kiwi security technology leading the world

Businesses must take advantage of our home-grown, world-leading, internationally-valued cyber defence systems to manage risk.