Refinery welcomes dredging decision

Refining NZ welcomes the decision by the hearings panel appointed by the Northland Regional Council to grant resource consents for the Company's dredging project. We are currently reviewing the detailed consent conditions proposed by the Panel and may have more to say once this process has been completed. This critical project will improve freight economics and hence, the Company's refining margin, by allowing larger crude cargoes of around 1 million barrels to be shipped to Marsden Point. A lot of work has gone into independent studies and consultation with tangata whenua and the community over the last five years, and we are happy this has been recognised in the decision to grant resource consents. ENDS For information: Greg McNeill T: (09) 4325115; M: 021 873 623; E: greg.mcneill@refiningnz.com End CA:00321002 For:NZR Type:MKTUPDTE Time:2018-07-18 16:42:46