Read our recent market announcements 2020

Refining NZ Operational Report - September/October

Refining NZ Operational Update for September/October 2020

Refining NZ Operational Report - September/October  19/11/20

Refining NZ finalises plans for simplified refinery operations in 2021

The Company has now finalised its proposal to operate the refinery in 2021 under the current Processing Agreement, which will enable it to extend cash neutral operations in a low-margin environment at the Fee Floor.

Refining NZ finalises plans for simplified refinery operations in 2021  05/10/20

Refinery Simplification Plan Update

Refining NZ advises that Mobil Oil New Zealand Limited has 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.

Refinery Simplification Plan Update  23/09/20

Disclosure of movement in Substantial Holding Notification

Disclosure of movement in Substantial Holding Notification, showing Accident Compensation Corporation holdings in The New Zealand Refining Company Ltd.

Substantial Holding Notice - ACC  21/09/20

Refining NZ Operational Report - July/August

Refining NZ Operational Update for July/August 2020

Refining NZ Operational Report - July/August  21/09/20

Chief Operating Officer changes at Refining NZ

Refining NZ today announced that Jack Stewart, currently Refining Manager, will take over from Andrew Brewer as Chief Operating Officer in the fourth quarter of this year to lead the implementation of the Strategic Review outcomes.

Chief Operating Officer Changes  17/08/20

Half Year Announcement 2020 and Investor Presentation

2020 Half Year Announcement and Investor Presentation

RNZ Condensed Interim Financial Statements - HY20  17/08/20 RNZ Results Announcement HY20  17/08/20 Results Commentary  17/08/20 RNZ HY20 Investor Presentation  17/08/20

Refining NZ announces non-cash impairment / Half Year results date

Refining NZ today announced that it expects to recognise a non-cash impairment charge in the order of $220 million before tax ($158 million after tax) in the 2020 half-year results.

Refining NZ announces non-cash impairment / Half Year results date  04/08/20

Refining NZ Operational Report - May/June

Refining NZ Operational Update for May/June 2020

Refining NZ Operational Report - May/June  22/07/20

Bank Facilities Extended

The New Zealand Refining Company Limited (“Refining NZ”) announces that it has entered into binding documentation to extend the term of $40 million of an existing facility maturing in March 2022, by a further two and a quarter years. The $40 million facility will mature on 30 June 2024.  This follows Refining NZ’s previous announcement on 25 March 2020 that it had extended 2021 maturities and added $50 million of additional capacity.

RNZ Bank Facilities Extended  14/07/20

Ongoing Disclosure Notice

Ongoing Disclosure Notice for Denise Jensen

Ongoing Disclosure Notice - D. Jensen  30/06/20

Refining NZ Strategic Review Update

Update on Refining NZ’s Strategic Review Announcement

Refining NZ Strategic Review Update  25/06/20

Capital Change Notice

Capital Change Notice

Capital Change Notice  12/06/20

Provision of Financial Assistance - ESS

In accordance with section 80 of the Companies Act 1993, The New Zealand Refining Company Limited (Company) is required to make the following disclosure in respect of financial assistance provided by the Company for the recent allocation to its employees under the Company’s Employee Share Purchase Scheme (Scheme).

Provision of Financial Assistance - ESS  12/06/20

Refining NZ Operational Report - March/April

Refining NZ Operational Update for March/April 2020

Refining NZ Operational Report - March/April  22/05/20

Annual Shareholder Meeting - Poll Result

Results of Refining NZ 2020 Annual Shareholder Meeting

ASM Shareholder Poll Results  30/04/20

Annual Shareholder Meeting

Annual Shareholders’ Meeting 2020 – Presentation Materials

The New Zealand Refining Company Limited provides a copy of the Chairman’s Address, CEO’s Address and Presentation to the Annual Shareholders’ Meeting.

ASM Presentation  29/04/20 Chairman and CEO Address  29/04/20

Capital Change Notice - PSRs

Capital Change Notice - PSRs  17/04/20

Refining NZ adopts a new share right incentive plan for its CEO

The Board is pleased to announce that it has adopted a share rights plan (Rights Plan) to execute on its retention and incentive commitments to its new CEO. The new plan also has flexibility to be extended to other employees in the future to further align employees’ and shareholders’ interests.

Refining NZ adopts a new share right incentive plan for its CEO  17/04/20

Refining NZ announces Strategic Review

Refining NZ today announced the commencement of a Strategic Review to determine the optimal business model and capital structure for its assets that will maximise “through the cycle” returns to shareholders, and deliver secure, competitive fuel supply to New Zealand.

RNZ announces strategic review  15/04/20 NZR Strategic Review - Investor Presentation  15/04/20

Refinery NZ to enter the ETS as an EITE

The Government has approved the making of regulations to bring Refining NZ in to the New Zealand Emissions Trading Scheme (NZETS) as an Emissions Intensive Trade Exposed (EITE) business with an industrial allocation of carbon units after the Negotiated Greenhouse Agreement expires at the end of 2022.

Refinery NZ to enter the ETS as an EITE  14/04/20

Director Independence - Paul Zealand

Further to its announcement on 25 March 2020, the Board of Refining NZ has determined that Paul Zealand is an Independent Director following the end of his temporary role as Managing Director on Ms Naomi James becoming the CEO.

Director Independence  14/04/20

Robust operating mode to be extended

Refining NZ has agreed with its customers to extend the period it is operating the refinery in a reduced production mode by a further two months to the end of August, in response to the significant fuel demand reduction resulting from COVID-19 travel and transport restrictions.

Robust operating mode to be extended  06/04/20

Notice of Annual Shareholder Meeting 2020

Notice is hereby given that the 59th Annual Meeting of The New Zealand Refining Company Limited will be held on Wednesday, 29 April 2020 commencing at 2:00pm.

Notice of Meeting 2020  26/03/20 S209 Letter  26/03/20 Virtual Annual Meeting Guide 2020  26/03/20

Refining NZ 2019 Annual Report

Refining NZ’s 2019 Annual Report

Annual Report 2019  26/03/20

RNZ announces robust operating mode in response to COVID-19

Refining NZ has agreed with its customers to change the way it operates the refinery initially for a period of three months, in response to the significant fuel demand reduction resulting from COVID-19 travel and transport restrictions.

RNZ announces robust operating mode in response to COVID-19  25/03/20

Refining NZ Debt Facilities extended and increased

The New Zealand Refining Company Limited (“Refining NZ”) is pleased to announce that it has extended and expanded its existing bank facilities, increasing the weighted average term to over three years and adding $50 million of additional capacity.

Refining NZ Debt Facilities extended and increased  25/03/20

Start date for New Chief Executive Officer

Refining NZ, the owner and operator of the Marsden Point refinery and the Refinery-to-Auckland pipeline, has confirmed that recently appointed Chief Executive Officer, Naomi James will commence her role on Monday 6 April, 2020.

Start Date for New CEO  25/03/20

Refining NZ Operational Update - January/February 2020

Refining NZ Operational Update for January/February 2020

Operational Update - Jan/Feb 2020  20/03/20

Financial Assistance Share Scheme

The New Zealand Refining Company Limited (trading as Refining NZ) has today sent to all shareholders the attached disclosure document required under the Companies Act 1993. The disclosure document relates to the provision of financial assistance to employees in connection with the acquisition of shares under Refining NZ’s Exempt Share Scheme (ESS employee share plan).

 

Shareholder Disclosure Document  12/03/20 Shareholder Disclosure - Financial Assistance to Employees  12/03/20

Director Nominations

Director Nominations

Refining NZ will hold this year’s Annual Meeting at 2pm on Wednesday 29 April 2020 at Eden Park, Auckland.

For the purposes of NZX Listing Rule 2.3.2, the period for the nomination of directors opens today and will close at 5.00 pm on 16 March 2020.

Director Nominations  28/02/20

Full Year Announcement 2019 and Investor Presentation

2019 Full Year Announcement and Investor Presentation

Results Announcement - Commentary  27/02/20 Results Announcement  27/02/20 Financial Statements 2019  27/02/20 Investor Presentation  27/02/20

Refining NZ - Full Year 2019 results presentation

Refining NZ’s financial results for the year ending 31 December, 2019 will be presented on Thursday 27 February, 2020 at 9.15am.

The presentation will be available by audioconference. To access the audioconference link and to register to view the presentation, go to www.refiningnz.com.

Results Presentation  24/02/20

Key Dates - 2020

The New Zealand Refining Company Limited (trading as Refining NZ) advises Key Dates for 2020.

 

Key Dates 2020  13/02/20

Appointment of Chief Operating Officer

Refining NZ has appointed Mr Andrew Brewer to the role of Chief Operating Officer effective from 16 March 2020.

Appointment of Chief Operating Officer  04/02/20

Disclosure of movement in Substantial Holding Notification

Disclosure of movement in Substantial Holding Notification, showing Accident Compensation Corporation holdings in The New Zealand Refining Company Ltd.

Substantial Holding Notice - ACC  23/01/20

Refining NZ Operational Update for November/December 2019

Refining NZ Operational Update for November/December 2019

Operational Update for Nov/Dec 2019  21/01/20

Appointment of Acting Chief Executive Officer

Further to the announcement made 13 January 2020, the Refining NZ Board advises that effective from 1 February 2020, Independent Director Paul Zealand will be appointed Managing Director to serve as the acting CEO to cover the transition from incumbent Mike Fuge (leaving 21 February), to the new CEO, Naomi James (joining during April).

Appointment of Acting Chief Executive Officer  17/01/20

Appointment of Chief Executive Officer

Following an international search, Refining NZ is pleased to announce the appointment of Naomi James as its new Chief Executive Officer.

Appointment of Chief Executive Officer  13/01/20