NZ Refining says margins healthy

The New Zealand Refining Company, operator of New Zealand's only oil refinery at Marsden Point, said it processed 6.6 million barrels of oil in November and December of 2010.

The refinery processed 38.9m barrels of crude in 2010. The processing fee for November and December was $NZ41m, taking the total processing fees for the year to $232.6m.

The company said refining margins were healthy in the period. The average gross refinery margin was $US6.75 ($9.18) per barrel in the two-month period. The final gross margin for the year was $US6.17 per barrel, which was more than the $US6.06 per barrel signalled to the market in February 2011.

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