Z Energy to get $9.5m repayment from Customs over co-mingled fuels dispute
Last September Z said it made a $23 million payment to Customs.
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Hawke’s Bay
Z Energy [NZX: ZEL] said its final settlement with the New Zealand Customs Service over the treatment of co-mingled fuels at Wiri Oil Services and other terminals came in at $18.5 million, meaning the service station chain will get back $9.5 million of the amount it paid last year to settle the dispute.
Last September Z said it made a $23 million payment to Customs related to the Wiri fuel terminal and a further $5 million to cover assessed liabilities from other Z terminals. The company will recognise $13.5 million of the cost in its 2016 financial, having accrued $5 million in the 2015 year, it said.
(BusinessDesk)
Staff Reporter
Wed, 30 Mar 2016
Wed, 30 Mar 2016
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Z Energy to get $9.5m repayment from Customs over co-mingled fuels dispute
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