NZ Refining (NZX: NZR) has posted healthy production results for the September/October period.In a statement to NZX today, NZRC announced throughput of 5.3 million barrels, taking into account a successful 26-day planned maintenance shutdown.Processi
NZ Refining (NZX: NZR) has posted healthy production results for the September/October period.
In a statement to NZX today, NZRC announced throughput of 5.3 million barrels, taking into account a successful 26-day planned maintenance shutdown.
Processing fees for the two-month period totaled NZ$35m, compared to NZ$41m generated by 6.8m barrels over the July/August.
The average refining margin was US$6.96 per barrel (US$7.17 for July/August), subject to an average US$/NZ$ exchange rate of 0.74 (0.71 for July/August).
In September, NZRC indicated that it was too soon to assume that healthy refining margins would continue, after last year’s shock plunge from about US$12 to about $US1 per barrel.
The company at the time expected full-year throughput to be about 39.3m barrels.
Major shareholders in Northland-based NZRC are BP, Exxon Mobil, Aotea Energy, Garlow Management and Chevron, followed by about 3,600 private and institutional investors.
