Refining NZ estimates fuel leak will cost it $10m to $15m in lost revenueFEFININGNZ/FACEBOOK Pipeline owner Refining NZ is working on excavating around the pipe so damage can be assessed and repairs can begin.. Early estimates of the financial cost of the Auckland fuel pipeline leak are starting to trickle in, with pipeline owner Refining NZ forecasting the crisis will cost the company between $10 million and $15m in lost revenues. Dozens of flights in and out of Auckland airport have been cancelled because of the damage to the fuel pipeline which is expected to take up to 15 days to repair. STUFF The owner of the Marsden Point refinery, Refining NZ, has started counting the cost of the fuel pipe leak to its own business. "Financially, the impact is expected to be twofold – reduced pipeline income and reduced refining income as Refining NZ will have to slow-run or stop units due to ullage constraints in its tank farm."

Source: Stuff September 17, 2017 21:31 UTC