New Zealand's only fuel refinery at Marsden Point may include quitting the refinery operations and converting to becoming an import terminal only, after an annual loss of NZ$198.2 million.
Electric cars are set to supplant diesel fuel demand, which constitutes 70% of the fuel pipeline to Auckland, and the lockdown gutted demand, leading to cost cutting of NZ$70m in operational spending and capital expenditure.
It laid off 90 workers in December, about a quarter of its staff, excluding about 100 full-time contractors.
For additional details, please visit the link below: