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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