The end of oil refining in NZ

Refining NZ to become Channel Infrastructure as it moves to an import -only model. (Image: Supplied)

Fri, 06 Aug 2021

Oil refining in New Zealand is to end with shareholders in the country’s only refinery voting to move to an import-only model.A New Zealand Refining Company shareholders meeting today resulted in a strong vote in favour despite many abstentions in the two resolutions involved.The proposal remains conditional on entry into final agreements with customers, lender consents, and a final investment decision by the Refining NZ Board. The company is targeting a final investment decision around the end of Q3 2021, with a target for transition by...

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