Marsden Point Oil Refinery shareholders will vote next month on whether to stop refining fuel and become an import terminal only. Marsden Point Oil Refinery shareholders will vote next month on whether to stop refining fuel and become an import terminal only. Shareholders will vote next month to determine if the country's only oil refinery at Marsden Pt will stop refining oil and instead become an import only terminal to store imported fuel. If approved in a shareholder vote on August 6, Refining NZ will cease to be a refiner, and will instead become an import terminal, called 'Channel Infrastructure'. ''A transition to import terminal operations is expected to enable the company to recommence the regular payment of dividends to shareholders within one to two years after terminal operations begin," Allen said.

Source: New Zealand Herald July 04, 2021 23:26 UTC