Z Energy to get $9.5M repayment from Customs over co-mingled fuels dispute

Z Energy said its final settlement with the New Zealand Customs Service over the treatment of co-mingled fuels at Wiri Oil Services and other terminals came in at $18.5 million, meaning the service station chain will get back $9.5 million of the amount it paid last year to settle the dispute.

Last September Z said it made a $23 million payment to Customs related to the WOSL fuel terminal and a further $5 million to cover assessed liabilities from other Z terminals. The company will recognise $13.5 million of the cost in its 2016 financial, having accrued $5 million in the 2015 year, it said.

(BusinessDesk)

BusinessDesk.co.nz

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

TRU - Commercial Opportunities for Western Europe and Middle East
GEN - General Capital Subsidiary Credit Rating Update
Fonterra updates 2025/26 season Farmgate Milk Price
FRW - Acquisition of VT Freight Express
PaySauce Opens $1m Share Purchase Plan
December 17th Morning Report
RUA - Successful rights offer is oversubscribed
Steel & Tube - Shareholder Newsletter - December 2025
SKC - Resignation of Chief Risk Officer
December 16th Morning Report