Refining NZ is reporting a processing fee income loss for the May/June period of $2.8 million due to the impact of the recent maintenance shutdown.
The Marsden Point-based company started the shutdown in late April with major work on refinery processing units and related equipment underway on May 7. Such operations take place every 15 years.
It was back in operation on July 6 after longer than expected delays due to leaks and a weld failure on the hydrocracker unit.
Throughput for the May/June period was 3.9 million barrels.
The gross refinery margin for the period was a negative 71 US cents per barrel. This compares to an average US$6.4 per barrel for the period over the past four years.
The Singapore Dubai complex margin for the May/June period was US$2.02 per barrel, down from US$3.75 per barrel margin for the March/April period.
The shutdown was originally planned to cost $85million but delays have added up to $30m extra in costs.
A $40m loss is expected for the company’s 2018 net profit after tax result.
