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BP Votes to Support $365m Refinery Upgrade
BP VOTES TO SUPPORT $365M REFINERY UPGRADE
BP has voted to support expansion and upgrade plans at Marsden Point Oil Refinery, north of Whangarei. The proposed new continuous catalyst regeneration (CCR) platform, a significant long term investment, required shareholder approval and this was achieved at today’s Refining NZ AGM, held at the Refinery.
BP Managing Director Mike McGuinness said that as the largest single shareholder of Refining NZ (23.66%), BP has taken a long term view with this key energy infrastructure asset.
“BP is committed to building and supporting infrastructure that will ensure New Zealand’s energy needs are met. This is a good long term project for the country, the refinery and for BP,” said Mr McGuinness.
BP supported the view of many shareholders that the project added value and was of national interest, Mr McGuinness said.
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