NZR
08/08/2014 12:19
MONTHLY
REL: 1219 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: Throughput and Margin Report - May/June 2014
The average Gross Refinery Margin (GRM) for the May/June 2014 period was USD
3.72 per barrel, resulting in a Processing Fee income of NZD 21.1 million on
a throughput of 7.0 million barrels. The average exchange rate for May/June
was USD/NZD 0.86.
During this period the Processing Fee was topped up by NZD 1.3 million Fee
Floor income. Excluding the Fee Floor, the GRM was USD 3.48 per barrel and
the Processing Fee NZD 19.7 million (USD 2.44 per barrel).
Singapore complex margins fell during the period to average USD 0.10 per
barrel, showing unseasonal weakness for this time of the year. Refiners
across the region suffered including large operators in South Korea,
reporting operating losses in the second quarter due to poor margins.
Refining NZ's margin uplift over Singapore complex margins returned to the
normal range of USD 3 to 4 per barrel.
Appendix I shows further information on throughput, margin and refining
income.
Historic Analysis
A five year 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
For further information contact:
Greg McNeill
Communications & External Affairs Manager
Refining NZ
P: (09) 4328311; M: 021 873623; E: [email protected]
www.refiningnz.com
End CA:00253642 For:NZR Type:MONTHLY Time:2014-08-08 12:19:40
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