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The New Zealand Refining Company Limited (NZX: NZR) Refinery Simplification Dispute Notice Tuesday 22nd December 2020 Refining NZ advises that bp Oil New Zealand Limited has now issued a notice of dispute under its Processing Agreement with Refining NZ in relation to Refining NZ’s plans to simplify the Marsden Point oil refinery operations. Refining NZ has also issued a notice of dispute under the Processing Agreement to bp in relation to a separate claim by Refining NZ that the Fee Floor payable by all customers in combination should be $70m per annum higher. Bp and R...

Z Energy clashes with Refining NZ over processing fee Emma Hatton © RNZ / Alexander Robertson A dispute has broken out between Refining NZ and Z Energy over how much the fuel retailer should be paying to have fuel processed. The refinery recently announced it would downsize production to 90,000 barrels of crude a day, a level last seen in 1995. It would also stop bitumen production. However, Z Energy, a major customer and shareholder, is demanding a drop in overall processing costs because of reduced production. "Z has notified the refinery that we will pay the contracted pr...