Z Energy accelerates cost-savings initiatives in 'tricky' crude market

Thu, 01 Nov 2018

By Gavin Evans Nov. 1 (BusinessDesk) - Z Energy is accelerating work on new services and cost-saving initiatives in the face of a “very tricky” crude oil market. The company had been “caught short” by the rapid jump in oil prices and the fall in the kiwi dollar during the six months through September, chief executive Mike Bennetts said today. While those impacts, and an unplanned extension of a shutdown at the Marsden Point oil refinery were beyond its control, risks in the crude market may persist and the company needs to move faster...

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