Andrew Kelleher: JMI Wealth Director on Marsden Point oil refinery change to fuel-import terminal

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Recorded22 Nov 2021

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It could take years to know the full impact of the decision to stop refining oil at Whangārei's Marsden Point. The oil refinery will convert into a fuel-import-only terminal from April. Refining NZ shareholders voted overwhelmingly for the change, due to the glut of global fuel supplies, high pipeline fees, and plummeting fuel demand. But JMI Wealth Director Andrew Kelleher told Mike Hosking it will mean the loss of hundreds of jobs at the refinery itself and hundreds more at contractor companies. “It finally confirms the loss of a bunch of skilled jobs in Northland given the number of contractors and suppliers associated with and reasonably dependant on the refinery.” LISTEN ABOVESee omnystudio.com/listener for privacy information.

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