- Release Date: 07/12/15 15:02
- Summary: GENERAL: NZR: Refinery's Te Mahi Hou project
- Price Sensitive: No
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NZR 07/12/2015 15:02 GENERAL PRICE SENSITIVE REL: 1502 HRS The New Zealand Refining Company Limited GENERAL: NZR: Refinery's Te Mahi Hou project On 2 December 2015, we announced that Te Mahi Hou had commenced producing on specification gasoline and that production on the old platforner had stopped. We also announced that, in the current volatile crude and gasoline price environment, Te Mahi Hou was expected to lift the Gross Refinery Margin (GRM) by approximately USD 0.85-0.90 per barrel and increase operating cash flows by around $50-$55 million, in addition to increasing the Refinery's production of petrol by around 2 million barrels per annum. Given the noted volatility of the price environment, in which the fee floor or cap may be in effect from time to time, the above cash flow indication is prior to any application of the fee floor and cap in the processing fee calculation. ENDS For further information: Greg McNeill, Communications and External Affairs Manager T: 094325115; M: 021 873623; E: [email protected] End CA:00274749 For:NZR Type:GENERAL Time:2015-12-07 15:02:27
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- Ann: GENERAL: NZR: Refinery's Te Mahi Hou project
Ann: GENERAL: NZR: Refinery's Te Mahi Hou project
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