New Zealand's Lone Refinery Hurt by Demand Destruction But is Surviving, an Industrial Info Market Brief
New Zealand's Lone Refinery Hurt by Demand Destruction But is Surviving, an Industrial Info Market Brief
Attachment: Map
New Zealand's lone refinery, Marsden Point, has experienced severe demand destruction as a result of the COVID-19 pandemic. So far, it has survived and its owner, Refining NZ, has acted quickly and decisively in partnership with its customers to manage stocks and ensure reliable supplies across the country, according to local news accounts.
In a two-pronged approach to the situation, the company cut non-essential spending by $70 million, and shut down operations for six weeks in a bid to balance supply and demand.
Subscribe Now!(All Fields Required)
Related Articles
Articles related to this company
- France Plans $55 Billion in Windfarms as Offshore Projects Gain Momentum
- Africa's Fertilizer Demand Sparks $5.8 Billion of Projects
- Poland's PGE Plans $7 Billion Renewable Energy Push
- Peru's Runoff Presidential Election Could Impact $45 Billion in Mining Proj...
- Industrial Construction Activity Up 37% So Far in 2021