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Schedule of loans and payments made on loans drawn to finance Marsden Point Oil Refinery

Stephan Hokke made this Official Information request to The Treasury

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From: Stephan Hokke

Dear The Treasury,

I am curious as to the outstanding debt remaining on all loans drawn to finance the Marsden Point Oil Refinery. It is my understanding that loans were made approximately as to date and amount as I have listed below:

1962 10,000,000 NZ Pounds initial construction
1973 160,000,000 NZ Dollars expansion
1979 320,000,000 NZ Dollars further expansion
16May1980 500,000,000 NZ Dollars with Lloyds Bank International
13Oct1982 750,000,000 NZ Dollars with Lloyds Bank International
1985 1,840,000,000 NZ Dollars Maintenance on refinery
1984 80,000,000 NZ Dollars Loan to assist during turnover to NZ Refining Limited.

Also, were the loans taken over by NZ Refining Limited or were they kept by NZ Government?

Finally, were the majority shareholders of NZ Refining Limited liable for the outstanding balances, and/or the paid off portions? I see the company records the full costs of the plant etc as an asset and keep a record of the depreciation. However, I see no record of outstanding debt for those assets.

My personal details that you request are being provided by my personal email address.

Yours faithfully,

Stephan Hokke

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From: Ministerial Services Inbox [TSY]
The Treasury

[UNCLASSIFIED]

Kia ora Stephan,

Thank you for your request under the Official Information Act 1982 which
was received on 10 June 2024. A response will be provided in accordance
with the Act (please see the Office of the Ombudsman Website for more
details – [1]http://www.ombudsman.parliament.nz/).

The Treasury may publish the response to your Official Information Act
(OIA) request. When you are provided with a response to this request, you
will be informed about whether the response to your OIA request will be
published. If the Treasury does publish the response to your OIA request,
personal information, including your name and contact details, will be
removed. This publication process does not apply to extension letters or
transfers.

Regards
George

Ministerial Advisor | Te Tai Ôhanga – The Treasury
Email: [email address]
Visit us online at [2]https://treasury.govt.nz/ and follow us on Twitter,
LinkedIn and Instagram

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From: Ministerial Services Inbox [TSY]
The Treasury

Attachment TOIA Reply 20240413.pdf
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[UNCLASSIFIED]

Kia ora Stephan,

Attached is the response to your Official Information Act request. Please
note that this response has been signed out via an electronic process,
rather than a physical signature.

Kind regards
George
Ministerial Advisor | Te Tai Ôhanga – The Treasury
Email: [The Treasury request email]
Visit us online at [1]https://treasury.govt.nz/ and follow us on Twitter,
LinkedIn and Instagram

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