Energy

The end of oil refining in NZ

Ian Llewellyn
Fri, 06 Aug 2021

The end of oil refining in NZ
Refining NZ to become Channel Infrastructure as it moves to an import -only model. (Image: Supplied)
Ian Llewellyn
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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