STU Waikaka! Pull up 13 years worth of cash flow data - stunning numbers, in fact show me better vs current price on the whole NZX.
NZR... not so much.
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Inside scoop is that the Refinery, which used to supply a waste product stream to BOC for their Marsden Point liquid CO2 production plant, will no longer be supplying this waste stream to BOC, from September onwards.
This arrangement was very profitable previously for both parties so for NZR to no longer provide this to the BOC plant strongly indicates to me that they are relinquishing long term supply contracts in order to transition into a Terminal-only setup.
the oil majors must think refining margins or demand are going to be low for a long time because the last 10 yrs nz refining has proven more profitable than direct import if you even out all the ups and downs , but only by less than $1/barrel i think.
the important thing in there decision must be what nz refining would charge for storage costs if they go this route of the import terminal as thats pretty much all the income nz refining have then but with big infrastructure costs to set it up to there already heavy debt load.
wonder who will dictate the storage cost for the analysis the oil share holders or the refinery? and will they allow for flucuating storage costs as per the normal market function
Aren't they more or less the same?Quote:
wonder who will dictate the storage cost for the analysis the oil share holders or the refinery?
:mellow:
Be a shame to lose the refinery. You'd think with what we are undergoing atm, we'd be looking to be more independent, not the opposite.