The Markets

NZ shares up as Refining NZ shareholders vote to end refining

Friday 6th of August 2021

The S&P/NZX 50 Index rose 15.67 points, or 0.1%, to 12,770. Turnover was $177.4 million.

Shareholders in the country’s only refinery voted Friday to convert the crude oil processing plant into an import terminal for refined fuel.

The decision followed a collapse in profitability as demand for all types of fuel crashed during the pandemic.

Refining NZ’s customer sharehold...

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