Refining NZ says power cut may cost $2.5m

By Gavin Evans | Thu, 28 Nov 2019


Refining NZ says the power cut that shut the Marsden Point refinery yesterday may trim full-year profit by as much as $2.5 million.About 90,000 people lost power in Northland yesterday due to a fault on a 220-kilovolt circuit running from Huapai north of Henderson to Marsden Point.While the refinery was shut down without damage or injury, restarting processing units is likely to take a few days, the company said today. That delay will likely reduce full-year net profit by $1.5-2.5 million, the refiner said in a statement on NZX. The company rep...