Panic over as oil refinery remains open

Motorists can breathe a sigh of relief as administrators have signed a deal to keep Coryton oil refinery in Essex open. Motorists in the south-east began to panic as Coryton refinery’s Swiss owners Petroplus filed for bankruptcy on Tuesday. The refinery provides 20% of south-east of England’s fuel supply, so closure would have meant a sharp increase in fuel prices. Drivers were urged not to stock up on fuel, but mild panic seemed unavoidable with large queues forming at many petrol stations.

Although deliveries have started again, it is not clear how soon the refinery will return to full capacity, or what the future holds for the 500 workers.¬†Administrator Steven Pearson said: “I am pleased that we are able to resume fuel supplies in the region.¬†The team has worked collaboratively with customers to get to this stage so quickly.”