Refining company earnings take off

New Zealand Refining, operator of the country’s sole oil refinery, more than doubled its first-half earnings as its profit from processing each barrel of crude oil rose.

Net income for the six months to June 30 increased to NZ$34.3 million (€18.43 million), or NZ$1.43 a share, from NZ$14.1 million, or 59 cents, a year earlier. Sales rose 27% to NZ$119 million.