Refining NZ expects $220m impairment
Excesss refining capacity in Asia/Pacific, reduced jet fuel demand, stoke write-down.
Refining New Zealand is set to write down its half-year earnings by $220 million on the back of a glut of refining capacity in Asia and the Pacific and reduced jet fuel demand.
The listed company, which operates the Marsden Point refinery, said it would recognise a non-cash impairment charge
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