Closure of Marsden Point oil refinery set to be put to shareholder vote

A Stuff article.

Refining NZ has reached an “in principle” agreement with Z Energy on a deal that could see it close its Marsden Point oil refinery by the middle of next year and switch to importing refined fuels.

The company has previously reached a similar agreement with fellow shareholder and customer BP, and Refining NZ said it could put the proposal to a shareholder vote before the end of September.

A Refining NZ spokeswoman said the import terminal conversion proposal would need to be approved by 75 per cent of the votes cast.

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