Energy Sector

NZ Refining reported rise in profit

NZ Refining reported rise in profit

New Zealand Refining Co., operating the only refinery in New Zealand at Marsden Point, near Whangarei, which had forecasted a profit for the year ending on December 31, between $115-125m in the month of October, had a profit higher by 11 percent of $124.9 million, on account of high refining margins and a favourable exchange rate. Its Revenue increased 18 percent to $397.8m.

Shell NZ reviews its downstream businesses

Royal Dutch Shell Plc

Royal Dutch Shell Plc., Europe's largest oil company, third-biggest shareholder after BP and Mobil, has under taken a review of its investments in New Zealand and its 
17% stake in the nation's only refinery at Marsden Point. 

Electricity grid to get $50m upgrade in April

Transpower

Today, Transpower accelerated $50 million of work on the national grid, thus much required work on high-voltage power pylons will now be maintained from April on, which otherwise could have been waiting up to 10 years. 

Plunge in Fuel prices in New Zealand

Plunge in Fuel prices

Recently, a drop was witnessed in the prices of the fuels since prices were cut by the oil companies by 3 cents per litre.

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