Marsden Point Oil Refinery
Marsden Point Oil Refinery is a 96,000 BPD refinery situated at Marsden Level, Whangarei, petroleum products used in our daily life lessons Northland, New Zealand. It’s the only oil refinery in New Zealand, and is operated by Refining NZ
Rising demand for petrol and petroleum associated products led the Nash Labour government to start investigating the potential of constructing an oil refinery. The location at Marsden Point was chosen for the oil refinery as a consequence of its location next to a deep water port, low danger of earthquakes, expanses of flat land and closeness to the inhabitants centres of the North Island.
Building of the refinery began in 1962. A consortium of the brand new Zealand Authorities contributed the preliminary NZ£10 million budget of the refinery. It was officially opened on 30 Could 1964.
In 1973, the government authorised a NZ$160 million growth of the refinery, involving the addition of a fluid catalytic cracker. Later that year, the primary international oil shock, sparked by the Yom Kippur Struggle, raised crude oil costs from US$3 to around US$20 a barrel – nevertheless, New Zealand retained reasonable safety of supply.
A second world oil shock in 1979, this time as a result of Iranian revolution, drastically elevated the price of oil again. This proved to be a catalyst for additional expansion of the refinery, under the Muldoon National Governments Assume Massive energy tasks. The estimated value of expansion was $320 million, with a hydrocracker now thought-about slightly than the planned catalytic cracker.
In 1981, the expansion began and the federal government approving a 170 kilometres (a hundred and ten mi) pipeline to Wiri, south Auckland. A workforce of 5,000 worked on the enlargement, which was by now anticipated to cost $1.Fifty five billion. Strikes throughout the challenge led to the introduction of the Refinery Growth Projects Dispute Act by the Muldoon authorities. An inquiry into the strikes and the governments’ reactions petroleum products used in our daily life lessons to them adopted. In 1985, the refinery shut down for 5 months for maintenance work on the outdated refinery. The mission was completed in 1986, two years behind schedule and at a closing price of $1.Eighty four billion. During this time, the value of oil fell to $eight US per barrel and the refinery was mothballed. It was cheaper to import refined petroleum than it was to course of it at Marsden Point (The refinery was named after Earnest Marsden, Prof of Physics at Victoria Univ, Wellington).
Reform and privatisation
Following the election of the reformist Fourth Labour Authorities in 1984, the Petroleum Sector Reform Act was introduced. This Act deregulated the petroleum industry, with 1,500 employees anticipated to lose their jobs. The Refinery belongings had been transferred by the federal government to the brand new Zealand Refining Firm Restricted, a consortium of the 5 major petrol retailers. The government injected $eighty million to enable the company to adapt to the new setting. A serious effectivity drive was launched to chop operating prices.
The refinery uses a medium-bitter blend of crude oil, almost all of which is imported. Most crude oil produced in New Zealand is mild-candy and is exported to refineries in Australia.