22 Aug 2008

Higher electricity costs hit refinery profit

8:04 am on 22 August 2008

The New Zealand Refining Company blames higher electricity costs on a 10% drop in profit to $54 million for the six months to July.

The operator of the oil refinery at Marsden Point says revenue rose 13% to $183 millon.

New Zealand Refining expects a tougher second half as demand slows for fuel and more refinery capacity comes on stream.