Several parties have ‘expressed an interest’ in Coryton refinery

The Coryton refinery in Essex has had a number of companies express interest in acquiring the site, says one of its administrators PricewaterhouseCoopers. Recently threatened with closure after its owner […]

Register now!

By Tom Gibson

The Coryton refinery in Essex has had a number of companies express interest in acquiring the site, says one of its administrators PricewaterhouseCoopers. Recently threatened with closure after its owner Petroplus filed for insolvency, the plant has managed to continue operations since PwC took the reins on 24th January.

According to reports from Reuters, Coryton has attracted more than 40 interested parties.

Steven Pearson, joint administrator and partner at PwC said: “We continue to work through the day and night to find a solution which buys more time and which ultimately could result in a sale. The support of the management, employees and unions at Coryton has been outstanding and a critical factor in getting to this stage.”

The Coryton refinery, which can process 175,000 barrels of crude oil per day, received a cargo of oil to be refined two days ago, calming fears that a lack of supplies would force it to close down.