- Release Date: 22/04/14 15:48
- Summary: GENERAL: NZR: Operational update Refining NZ planned maintenance shutdown
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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
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