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New Zealand will stop refining

 Last Update: 2021-08-27
 Source: Internet
 Author: User

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According to recent news from Dow Jones, Wellington, New Zealand, shareholders of New Zealand’s only refinery approved a plan to transform it into a gasoline import terminal
.

It is reported that the shareholders of this refinery almost unanimously voted on August 6 to transform it into an import terminal
.

The refinery’s shareholders include major customers such as Z Energy and Exxon Mobil

It is understood that the Marsden Point refinery operated by the New Zealand Refinery Company meets about 70% of the country’s gasoline, aviation fuel and diesel demand, but due to low profit margins and competition from larger and more efficient refineries in Asia, the The oil refinery is no longer economically profitable
.

In addition, industry insiders say that the epidemic has accelerated the closure of old refineries in wealthy countries, while countries such as China and India have increased their refining capacity

From 2022, New Zealand will stop oil refining, which has triggered discussions on fuel safety in New Zealand
.

New Zealand has always relied on imported crude oil, and the end of the country’s refining industry will mean that its dependence on imported crude oil will be transformed into a dependence on imported refined oil

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