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New Zealand's Lone Refinery Hurt by Demand Destruction But is Surviving, an Industrial Info Market Brief

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Industry Segment: Market Brief | Word Count: 157 Words
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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.

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