1000 Essex refinery jobs under threat

Nearly 1,000 jobs are in jeopardy amid reports that an oil refinery which went bust is likely to be closed and turned into a storage terminal.The Coryton plant in Essex, which is the biggest provider of petrol and diesel in the south east, was placed into administration in February.

A deal to keep the plant running for three months expired last week with administrators still scrambling to find a buyer. Vitol, the world's largest independent oil trader, is understood to have dropped out of the auction and it's now thought the plant may be turned into a storage terminal.

East of England MEP Richard Howitt believes about 80% of the jobs at the site would go if it was converted into a terminal, which would be "a disastrous outcome for all involved". He is meeting representatives of a remaining bidder tomorrow and said there was still hope of a deal.