- Release Date: 23/11/12 15:48
- Summary: MONTHLY: NZR: Throughput and Margins Report September-October 2012
- Price Sensitive: No
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NZR 23/11/2012 13:48 MONTHLY REL: 1348 HRS The New Zealand Refining Company Limited MONTHLY: NZR: Throughput and Margins Report September-October 2012 The Processing Fee for the period September to October 2012 of NZD48 million was generated from a throughput of 7.4 million barrels for the two-month period. The average Gross Refinery Margin (GRM) generated for the two month period was USD 7.63 per barrel with an average exchange rate of USD/NZD 0.82. Singapore complex margins have contracted to around USD1.00 per barrel compared with USD3.00 to 3.50 per barrel for the July to October period. The margin earned by Refining NZ is typically USD3.00 to USD4.00 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 cost 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 USD5.41 per barrel and the exchange rate USD/NZD 0.81. Refer to Appendix I. 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:00230168 For:NZR Type:MONTHLY Time:2012-11-23 13:48:17
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