- Release Date: 01/02/13 16:32
- Summary: GENERAL: NZR: Throughput and Margin Report November-December 2012
- Price Sensitive: No
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NZR 01/02/2013 14:32 GENERAL REL: 1432 HRS The New Zealand Refining Company Limited GENERAL: NZR: Throughput and Margin Report November-December 2012 Refining NZ Throughput and Margin Report for November to December 2012 The Processing Fee for the period November to December 2012 of NZD46 million was generated from a throughput of 6.9 million barrels. The average Gross Refinery Margin (GRM) generated for the two month period was USD 7.88 per barrel with an average exchange rate of USD/NZD 0.83 Refining NZ achieved a margin uplift of more than USD6.00 per barrel over the Singapore complex margin, which remained low at less than USD1.00 per barrel during the two month period. Typically, Refining NZ has an uplift over the Singapore complex margin of around USD3.00 to 4.00 per barrel. The value of the uplift varies due to fluctuations in freight rates, quality premia, cost of crude actually processed versus Arab Light or Dubai (basis for the Singapore complex margins) and operational performance. In the last half of February 2013 we will be completing a planned "pitstop" (short shutdown) of the hydrocracker to complete maintenance and to replace some of the catalyst. A 12 day outage of the hydrocracker and the associated residue upgrading process units will limit the Company's ability to upgrade lower cost residue feedstock to high value products and will reduce the GRM earned during the January/February 2013 period. Refinery customers have been notified and the impact scheduled into product supply plans to ensure ongoing product availability. Full Year: 2012 The Gross Refining Margin 1), for the year averaged USD5.77 per barrel and the exchange rate USD/NZD0.81. 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:00232552 For:NZR Type:GENERAL Time:2013-02-01 14:32:34
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