Share
- Release Date: 25/02/14 15:36
- Summary: MONTHLY: NZR: Throughput and Margin Report November-December 2013
- Price Sensitive: No
- Download Document 1.68KB
NZR
25/02/2014 13:36
MONTHLY
REL: 1336 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: Throughput and Margin Report November-December 2013
Refining NZ Throughput and Margin Report for November/December 2013
The Processing Fee earned for the period November to December 2013 was NZD
8.8 million, generated from a throughput of 5.7 million barrels.
The average Gross Refinery Margin 1) (GRM) for the two month period was USD
1.82 per barrel and the average exchange rate was USD/NZD 0.82.
Singapore complex margins continued to be negative throughout the two-month
period, affecting refining margins across the industry. Our margin uplift
over Singapore complex margins was also negatively affected by USD 1 to 2 per
barrel due to high market premia for actual crude oil processed compared with
crude oil marker prices used for Singapore margins (Dubai or Arab Light).
Singapore margins have shown some recovery in January but remain low while
market premia for crude oil remain above typical historical levels.
The planned three-week turnaround, to regenerate the Platformer catalyst and
to perform maintenance on a crude distiller and a desulphurisation unit, was
successfully completed as planned during November.
Appendix I shows further information on throughput, margin and refining
income.
Full Year - 2013
The Gross Refining Margin for the year was USD 4.58 per barrel and the
exchange rate averaged USD/NZD 0.82. Throughput was 40.6 million barrels.
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
End CA:00247463 For:NZR Type:MONTHLY Time:2014-02-25 13:36:57
