NZR
22/10/2015 10:02
GENERAL
PRICE SENSITIVE
REL: 1002 HRS The New Zealand Refining Company Limited
GENERAL: NZR: Initiatives to Lift Refinery Margins
Refining NZ has confirmed that the three process unit initiatives the Company
had planned for 2015 are now completed. While Refining NZ are still to
evaluate the benefit of one of these initiatives, currently demonstrated
benefits stand at USD 0.13 per barrel, ahead of the USD 0.12 per barrel the
Company promised the market in August.
The initiatives include a modification to the Hydrogen Separation Unit, the
Hydrocracker ammoniation project and installation of a short residue transfer
line from a High Vacuum Unit to the Butane De-ashphalting Unit.
Going forward, the major focus for the Company is the commissioning of Te
Mahi Hou, which is due mid-to-late November and expected to lift the
refinery's margin by a further USD 0.90-1.10 per barrel.
ENDS
For further information:
Greg McNeill
Communications and External Affairs Manager
T: 094325115; M: 021 873623; E: [email protected]
End CA:00272159 For:NZR Type:GENERAL Time:2015-10-22 10:02:01
