- Release Date: 22/10/15 10:02
- Summary: GENERAL: NZR: Initiatives to Lift Refinery Margins
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NZR 22/10/2015 10:02 GENERAL PRICE SENSITIVE REL: 1002 HRS The New Zealand Refining Company Limited GENERAL: NZR: Initiatives to Lift Refinery Margins Refining NZ has confirmed that the three process unit initiatives the Company had planned for 2015 are now completed. While Refining NZ are still to evaluate the benefit of one of these initiatives, currently demonstrated benefits stand at USD 0.13 per barrel, ahead of the USD 0.12 per barrel the Company promised the market in August. The initiatives include a modification to the Hydrogen Separation Unit, the Hydrocracker ammoniation project and installation of a short residue transfer line from a High Vacuum Unit to the Butane De-ashphalting Unit. Going forward, the major focus for the Company is the commissioning of Te Mahi Hou, which is due mid-to-late November and expected to lift the refinery's margin by a further USD 0.90-1.10 per barrel. ENDS For further information: Greg McNeill Communications and External Affairs Manager T: 094325115; M: 021 873623; E: [email protected] End CA:00272159 For:NZR Type:GENERAL Time:2015-10-22 10:02:01
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