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- Release Date: 23/11/12 15:48
- Summary: MONTHLY: NZR: Throughput and Margins Report September-October 2012
- Price Sensitive: No
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NZR
23/11/2012 13:48
MONTHLY
REL: 1348 HRS The New Zealand Refining Company Limited
MONTHLY: NZR: Throughput and Margins Report September-October 2012
The Processing Fee for the period September to October 2012 of NZD48 million
was generated from a throughput of 7.4 million barrels for the two-month
period. The average Gross Refinery Margin (GRM) generated for the two month
period was USD 7.63 per barrel with an average exchange rate of USD/NZD 0.82.
Singapore complex margins have contracted to around USD1.00 per barrel
compared with USD3.00 to 3.50 per barrel for the July to October period. The
margin earned by Refining NZ is typically USD3.00 to USD4.00 per barrel
higher than the Singapore complex margin due to a product quality and freight
differential advantage. Refining NZ's uplift over Singapore margins can vary
due to fluctuations in freight rates, quality premia and the cost of crude
actually processed versus Arab Light or Dubai (basis for the Singapore
complex margins).
Year to date
The Gross Refining Margin 1), on a year to date basis, averages USD5.41 per
barrel and the exchange rate USD/NZD 0.81. Refer to Appendix I.
Historic Analysis
Five years 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:00230168 For:NZR Type:MONTHLY Time:2012-11-23 13:48:17
