Z Energy

[Joshuatree]

Int that Caltex in Aus is exiting refining and importing instead citing of the emergenceof larger cheaper Asian refineries that they can't compete with. Z has a holding in Marsden Pt refinery; whether there will be a flow on to here or not i don't know but worth investigating/considering.

[Joshuatree]

Z just announced confirmed earnings guidance $205-$215 million EBITDAF to march 2014

Inst update briefing this arvo

And ILIKE this Z also announced it intends to invest $21 mill in a domestic biodiesel plant producing 20 million litres a year of Biodiesel made from inedible tallow feedstock.

[macduffy]

Here's hoping that it works!

"Chief executive Mike Bennetts said the Z board had approved the project.

It was still subject to regulatory and resource consents, which included approvals from competitors to construct the blending facility at the Wiri fuel terminal.

"We appreciate that others have tried and failed to bring domestically produced biodiesel at this sort of scale to the New Zealand market," he said. "

[Joshuatree]

It will ; i rate management highly.

[Joshuatree]

Cheers but with a mktcap over $1.5 billion, re $21 million is small change. Love the environmental aspects of this.

[Joshuatree]

Z welcomes commitment to greater refinery efficiency

So Z trying to keep costs down at the refinery but also has plans in place to build larger import terminals in Mount maunganui and lyttelton for imported refined fuels. Only refinery in NZ i think critical piece of nz energy infrastructure but one wonders if longterm it can compete or be partially mothballed ala Huntly as more refined fuels are imported.

[Joshuatree]

Short term probs as they fix the "Hydrocracker" at N Z refining.Longerterm better margins and also with the completion of Te Mahi Hou project.

Z say they are checking tyre pressures whilst you buy your gas and energy drinks.