BP New Zealand expects its profit to slide by a further 30 to 40 per cent this year. Petrol company profits are turning from a strong stream to a trickle. With results now in for all three oil majors — Z Energy, BP and ExxonMobil — their combined annual profit has fallen by 72 per cent to $117m, from $424m previously. Stuff All three oil majors are shareholders in Refining NZ which is in the midst of a potentially far-reaching strategic review. All three oil majors are minority shareholders in Marsden Point refinery operator Refining NZ, which is reviewing its operations amid a collapse in refining margins.

Source: Stuff May 28, 2020 01:18 UTC