NZR
16/09/2015 11:40
MONTHLY
PRICE SENSITIVE
REL: 1140 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: NZR Throughput and Margin Report - July-August 2015
Refining NZ continued to capitalise on the high margin environment during
July/August. Strong operational performance resulted in an all-time record
two-monthly throughput of 7.52 million barrels, surpassing the previous
record set in March/April.
The Gross Refinery Margin1) (GRM) for the period was USD 7.66 per barrel,
resulting in a Processing Fee income of NZD 61.2 million, or NZD 63.5 million
including recovery of previously capped margins. The year-to-date Cap
adjustment is NZD 5.5 million which will be recovered before calendar
year-end if GRMs are below the Cap.
Singapore complex margins for the period softened compared with the first
half of 2015 to an average of USD 2.52 per barrel. Refining NZ's margin
uplift over Singapore complex margins was USD 5.14 per barrel.
The average exchange rate for the period was USD/NZD 0.66.
Appendix I shows further information on throughput, margin and refining
income.
Historical 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
End CA:00270233 For:NZR Type:MONTHLY Time:2015-09-16 11:40:47
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