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Caltex deal to cost less, save more, as margins rise at Z Energy

2015-09-23 11:00:24| Energy - Topix.net

Shares in petrol retailer Z Energy shot to an all time high on Wednesday after it said taking over Caltex owner Chevron would cost millions less and more could be saved than it expected. Z, part owned by the NZ Superannuation Fund, also said its own performance was substantially better than it signalled in May, enough to offset a major hit from a dispute with Customs over excise payments.

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