Energy Minister Charles Hendry chaired a meeting with potential new owners for the Coryton oil refinery in Essex in order to prevent its closing down. Earlier this week, the plant’s owners Petroplus filed for insolvency, which has put the future of the major refiner into doubt.

Mr Hendry said: “Coryton has strong advantages as a refinery and is an important part of the UK’s refining infrastructure. All those at today’s meeting made clear that they were committed to doing all they can to ensure the future of the refinery.

“There was agreement that the best way to secure the sustainable future of the plant is to maintain current operations and to find a buyer as quickly as possible. I made clear that the government will do all it can to support this process.”

Coryton is situated 30 miles from London, on the Thames Estuary, well located for deep water, road and rail facilities.

The administrator, PricewaterhouseCoopers, detailed a plan of action to secure the long term future of Coryton refinery and has worked with union Unite to restore deliveries to customers.