Essex oil refinery to close

Coryton Oil Refinery in Essex will be closed, administrators have announced.

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Plant would need £625m to survive

The Coryton oil refinery is to close, after administrators failed to find a buyer or the money needed to keep it going, putting around 850 jobs are at risk.

The refinery went bust in January and was put into administration by its Swiss owner, Petroplus.

The plant supplies 20 per cent of fuel in London and the South East.

Administrators PwC said the site would be wound down over the next three months after the challenge of raising the £625m needed to fund the refinery proved too much.

There are likely to be a "substantial" number of redundancies among the 500 workforce, PwC said.

Around 350 contractors will learn their fate in the next few days.


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