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Hydrocracker upgrade on track to lift refinery profitability
Results from the first in a series of efficiency upgrades to Refining NZ’s hydrocracker unit show that the refiner is on track to improve its diesel processing and lift refining margins.

In March the Company refitted its Mild Vacuum Column (part of the Hydrocracker unit) with structured ‘packing’ – a honeycomb shaped series of corrugated metal plates that make separation of gasoil (the component of diesel) in the first stage of processing more efficient, and improves the yield of higher value products from the hydrocracking process.

Chief Executive officer, Sjoerd Post said the Company had forecast the step-up in separation efficiency from the column refit to lift margins by USD 0.13 per barrel. Early results show that separation efficiency of the new packing is better than had been forecast, having already lifted efficiency by around 3.5 percent.

“It’s clear that we’re getting far better gasoil separation from the column refit, and with a ‘cleaner cut’ we’re able to pull more gasoil out of the column without it being recycled to a second stage of processing, where conversion to less valuable, lighter products occurs.”

“In the current weak margin environment the forecast step-up in efficiency equates to around USD 0.11 per barrel. With better than forecast separation and the team continuing to work on optimisation, we expect to see even better efficiency from the column refit and with it, a further uplift in yield and margins going forward.”

Post said that the column refit is also expected to improve energy use with gasoil separation achieved at lower temperatures, and less hydrogen being required in the process.

date.png21 Jun 2014 06:37 | comments.png 0 Comments | tags.png new-zealand refinery [ More ]

Origin completes sale of TAWN assets
Origin Energy Limited (Origin) today announced the formal completion of the divestment of its Tariki, Ahuroa, Waihapa and Ngaere (TAWN) licences, as well as the Waihapa Production Station and associated gathering and sales infrastructure in New Zealand, to New Zealand Energy Corp (NZEC). In a related transaction, NZEC transferred the Ahuroa licence to Contact Energy.

date.png31 Oct 2013 07:01 | comments.png 0 Comments | tags.png new-zealand origin upstream [ More ]

Horizon Oil (HZN) Advises Major Upgrade At Maari Field Underway
The operator of the Maari oilfield, OMV New Zealand (“OMV”), has today advised that production at the field will be shut until December while a major facility and equipment upgrade is undertaken.

date.png01 Sep 2013 07:06 | comments.png 0 Comments | tags.png horizon new-zealand omv upstream [ More ]

Awarded subsea installation contract in Asia Pacific by OMW
DOF Subsea Group has recently been awarded a contract by OMV New Zealand Ltd, for subsea installation services to the Maari Field, Raroa FPSO offshore Taranaki, New Zealand.

date.png31 Aug 2013 21:14 | comments.png 0 Comments | tags.png dof-subsea new-zealand omv services [ More ]

Origin announces increase in Kupe reserves
Origin Energy Limited (Origin), as Operator of the Kupe Joint Venture, has announced that the initial proved and probable (2P) reserves in the Kupe field have increased.

date.png10 Jul 2012 08:09 | comments.png 0 Comments | tags.png new-zealand origin upstream [ More ]

Refining NZ Shareholders say yes to expansion
Refining NZ shareholders today voted for a $365 million expansion of petrol making facilities at the Marsden Point refinery.

date.png27 Apr 2012 07:31 | comments.png 0 Comments | tags.png new-zealand refinery [ More ]

Contact Energy opens $400 million development in Taranaki
New Zealand’s first underground gas storage facility and a new 200 megawatt, gas-fired peaker plant were both officially opened today by Prime Minister John Key at Contact Energy’s Stratford power station.

date.png31 May 2011 07:22 | comments.png 0 Comments | tags.png gas new-zealand storage [ More ]

TAG Oil Announces New Light Oil Discovery, Taranaki Basin, New Zealand
TAG Oil Ltd. (TSX-V: TAO) reports a new oil discovery in New Zealand’s Taranaki Basin with the Sidewinder-1 exploration well, located within TAG’s 100%-controlled, 7,910 acre, Broadside exploration permit PEP 38748.

date.png01 Oct 2010 05:43 | comments.png 0 Comments | tags.png new-zealand tag-oil upstream [ More ]
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