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- Release Date: 22/04/14 15:48
- Summary: GENERAL: NZR: Operational update Refining NZ planned maintenance shutdown
- Price Sensitive: No
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NZR
22/04/2014 13:48
GENERAL
REL: 1348 HRS The New Zealand Refining Company Limited
GENERAL: NZR: Operational update Refining NZ planned maintenance shutdown
The maintenance shutdown on the hydrocracker and related units which the
Company began in March has now completed with the successful replacement of a
failed compressor and start-up of the hydrocracker unit.
The combination of bad weather, emergent repairs and compressor failure added
16 days to the shutdown schedule as maintenance teams worked continuously to
bring impacted units into operation.
The Company's ability to manufacture through the shutdown via processing
units not included in shutdown, and by bringing processing units online after
completed planned maintenance, proved critical to assisting our customers
manage country fuel stocks.
Furthermore, a good operational performance during this period and the sale
of excess hydrocracker feed at a higher than anticipated valuation, will
limit the financial impact of the additional shutdown days. As a result the
Company now expects the additional shutdown days to have a one-off impact on
processing fee revenue of around US$7-9 million, with an expected throughput
of 40.5 million barrels for the year.
The Company acknowledges the co-operation of its four customers and wishes to
thank them for their forbearance in trying circumstances.
ENDS
For further information:
Greg McNeill
Communications & External Affairs Manager
T: (09) 4328311; M: 021 873623; E: [email protected]
End CA:00249677 For:NZR Type:GENERAL Time:2014-04-22 13:48:21
