17 Aug 2009

Oil refiner operating at almost full capacity

2:03 pm on 17 August 2009

The New Zealand Refinery produced 6.5 million barrels of oil in June and July, operating close to full capacity.

The average gross operating margin was $US4.83 a barrel in the two- month period, and the processing fee totaled $35.6 million.

The country's only refinery says the margin has fallen significantly because of a fall in demand for fuel and an increase in global refining capacity, while a strong New Zealand dollar reduced returns from processing fees.