Petroplus closure puts fuel supply in question
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HAULIERS WORKING in London and the South East could face fuel supply shortages following the Coryton refinery, owned by Swiss firm Petroplus, filing for insolvency this week (24 January).
Coryton, situated on the Thames Estuary, outputs 10% of the UK’s fuel and 20% of the South East’s supply, but was forced to file for insolvency following the recall of the firm’s debt by its lenders.
Ian Barclay, operations director at overnight logistics specialist Aspray24, warns that logistics firms may see prices driven up as a result of supply problems. “Hopefully, someone will step in to maintain the jobs at Coryton and ensure that supplies are retained,” he says.
Union Unite says it is in negotiations with Petroplus and the government to try and protect the 1,000 jobs at risk from the closure.
A Petroplus statement says: “We have worked hard to avoid this outcome, but were not able to come to an agreement with our lenders to resolve these issues.” As CM went to press, the government pledged to keep the refinery running.