Friday, 29 March 2024

Announcement

MONTHLY: NZR: Refining NZ Throughput and Margin Report for Sep/Oct 2016

17 Nov 2016 10:07NZX
Against a backdrop of steadily improving refining margins, Refining NZ
achieved a Gross Refinery Margin (GRM) for the September/October period of
USD 7.49 per barrel. Both the Singapore Dubai complex margin and Refining
NZ''s uplift over that margin tracked above their respective historical margin
ranges. Through strong operational performance and high throughput, Refining
NZ captured Processing Fee income of NZD 52.5 million.

Refining NZ''s uplift over the Singapore Dubai complex margin continued on
strongly from the July/August period with a healthy USD 4.31 per barrel
uplift, reflecting the sustained impact of the new CCR gasoline manufacturing
unit. The Singapore Dubai complex margin for the September/October period was
USD 3.18 per barrel, USD 1.32 per barrel or 71% up on the July/August period.

Throughput for the September/October period was 7.3 million barrels and the
average exchange rate for the period was USD/NZD 0.72.

Year to date the GRM was USD 5.89 per barrel and Processing Fee income was
NZD 209.0 million.

Appendix I shows further information on throughput, margin and refining
income.

Historical 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:00292831 For:NZR    Type:MONTHLY    Time:2016-11-17 10:07:15
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