Refining NZ Ltd says bumpy oil markets are unlikely to undermine a feasibility study to replace the country's only refinery which is ageing.
Refining NZ Ltd last week issued its second profit warning in less than a month, saying it will make an annual profit of between $32 - $36 million, which it blamed on plunging refiner's margins in December.
The board is to decide whether to spend $500 million to upgrade the plant at Marsden Point next month.
Chief executive Ken Rivers says the current volatility on oil markets is unlikely to influence the building of a plant that will last decades.
He says volatility during November and December affected the overall year's margin by only 30 cents.
