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- Release Date: 18/09/13 16:24
- Summary: MONTHLY: NZR: Throughput and Margin Report -July-August 2013
- Price Sensitive: No
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NZR
18/09/2013 14:24
MONTHLY
REL: 1424 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: Throughput and Margin Report -July-August 2013
The Processing Fee earned for the period July to August 2013 was NZD 39
million, generated from a throughput of 7.2 million barrels.
The average Gross Refinery Margin 1) (GRM) for the two month period was USD
6.05 per barrel and the average exchange rate was USD/NZD 0.79.
Singapore complex margins remained volatile throughout the period; ranging
from relatively "healthy" margins of around USD 4 per barrel in early July to
being negative during the second half of August. Singapore complex margins
have remained negative to date in September and on this basis we expect the
September/October GRM to be materially lower than the current reporting
period.
A planned three-week turnaround, to regenerate the Platformer catalyst and to
perform maintenance on a crude distiller and a desulphurisation unit, will
commence late in October. This will reduce the throughput volume by around
1.5 million barrels, mostly in the November/December period. The company
remains on track to process an estimated 41m Barrels of crude during 2013.
Appendix I shows further information on throughput, margin and refining
income.
Year to date
The Gross Refining Margin for the year to date is USD 5.54 per barrel and the
exchange rate USD/NZD 0.82.
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:00241269 For:NZR Type:MONTHLY Time:2013-09-18 14:24:16
