New Zealand refinery restarts after month-long revamp

New Zealand Refining Co. (NZRC) will fully restart the country’s only refinery located in Marsden Point with a newly expanded capacity of 145,000 barrels per day, following a month-long revamp and partial maintenance. The expansion project, dubbed the “Point Forward Project,” will enable the plant to increase output of high-value distillate products such as gasoline, diesel and jet fuel, and eliminate the need to import residue as feedstock for the refinery’s hydrocracker. Meanwhile, the investment cost for the Point Forward Project has increased to around NZ$190 million (US$143.04 million), from the original budget of NZ$180 million (US$135.51 million). (October 19, 2009)