Sharechat Logo

NZ Refining gross margins edge up in start to 2017

Wednesday 22nd March 2017

Text too small?

 New Zealand Refining's gross margins edge higher in the first two months of the year with strong throughput at the Marsden Point refinery. 

The Whangarei-based company achieved a gross refinery margin of US$6.58 per barrel in January and February, down from US$7.96/barrel a year earlier, though higher than the 2016 average of US$6.47/barrel. Some 7.16 million barrels were processed in the two-month period, up from 6.83 million a year earlier and ahead of the planned maintenance shutdown in March. 

The March shutdown helped lift the company's margin over the Singapore Dubai complex margin as firms built up their stocks in preparation. 

NZ Refining's processing fee was $45.9 million in period, down from $57 million a year earlier. 

The company's shares fell 0.4 percent to $2.38, having fallen 8.1 percent so far this year. 

 

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

19th August 2019 Morning Report
Company results, data, Fed to provide clues on recession risk
NZ dollar range-bound as global growth jitters increase
NZ dollar withstands poor manufacturing data
Bublitz to serve home detention following appeal
Former G8 boss takes over management of Evolve
Precinct boosts earnings, withholds $34m from Fletcher
Sky TV shares rise on US$40m RugbyPass acquisition
Precinct boosts earnings, withholds $34m from Fletcher
Sky TV shares rise on US$40m RugbyPass acquisition

IRG See IRG research reports