Refinery simplification dispute notice

Refining NZ advises that bp Oil New Zealand Limited has now issued a notice of dispute under its Processing Agreement with Refining NZ in relation to Refining NZ's plans to simplify the Marsden Point oil refinery operations. Refining NZ has also issued a notice of dispute under the Processing Agreement to bp in relation to a separate claim by Refining NZ that the Fee Floor payable by all customers in combination should be $70m per annum higher. Bp and Refining NZ have agreed to defer the dispute process through January while the parties continue to negotiate in relation to a potential future staged transition to an import terminal. Authorised by: Chris Bougen General Counsel and Company Secretary For further information: Ellie Martel Government and External Affairs Manager Ellie.Martel@refiningnz.com +64 (0)20 4174 7226 End CA:00365510 For:NZR Type:MKTUPDTE Time:2020-12-22 10:08:10