Refining New Zealand is scaling down operations at Whangarei's Marsden Point
Refining New Zealand is scaling down operations at Whangarei's Marsden Point
5 October 2020
It will reduce fuel production to 1995 levels and cut jobs from next year - as part of the first phase of its strategic review.
Production will drop to about 90-thousand barrels a day.
The publicly listed company will also stop producing bitumen -- the petroleum distillation residue used for roads and roofs.
The oil refinery plans to reduce its operating expenses by $20 million, to allow completion of key processing units deferred this year.
Discussions will begin with employees on the size of its workforce, which stands at 400.
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