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- Release Date: 28/09/12 16:17
- Summary: MONTHLY: NZR: Throughput and Margins Report July-August 2012
- Price Sensitive: No
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NZR
28/09/2012 14:17
MONTHLY
REL: 1417 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: Throughput and Margins Report July-August 2012
Refining NZ Throughput and Margins Report for July-August 2012
The Processing Fee for July-August 2012 of NZD 38 million was generated from
a throughput of 7.3 million barrels for the two-month period. The average
Gross Refinery Margin (GRM) generated for the two month period was USD 6.10
per barrel with an average exchange rate of USD/NZD 0.80.
Singapore complex margins have recovered well when compared with the first
half of the year and are currently tracking in the USD 3.00 - 3.50 per barrel
range. The margin earned by Refining NZ is typically USD 3.00 to USD 4.00 per
barrel higher than the Singapore complex margin due to a product quality and
freight differential advantage. Refining NZ's uplift over Singapore margins
can vary due to fluctuations in freight rates, quality premia and the price
of crude actually processed versus Arab Light or Dubai (basis for the
Singapore complex margins).
Year to date
The Gross Refining Margin 1), on a year to date basis, averages USD 4.81 per
barrel and the exchange rate USD/NZD 0.80.
Historic Analysis
Five years history of Throughput, Margins and Processing Fees is attached as
Appendix II and can also be found on the company's website www.refiningnz.com
End CA:00227897 For:NZR Type:MONTHLY Time:2012-09-28 14:17:41
