Deadline for bids for Coryton refinery confirmed
Date posted: 01-04-2012
THE THURROCK oil refinery whose parent company Petroplus has been in administration since January, will know indicative offers from prospective purchasers tomorrow (Monday),a meeting of stakeholders was told at an urgent meeting on latest progress to save the refinery today.
Essex Euro MP Richard Howitt who has helped lead the campaign to secure a future for the refinery, told the meeting he welcomed that all options remain on the table after crunch meetings with creditors and bond holders.
The Labour Euro MP who has questioned the debt levels set against the Essex refinery in relation to the four refineries in other European countries threatened by the bankruptcy of the Swiss parent company, also personally invited the Energy Minister to a round table organised by the European Commission to respond to the crisis and now confirmed also today.
Richard Howitt MEP said:
“The prospect of closure remains real which is why overcoming the latest hurdle of winning support from all those who are owed money is a small but significant step forward.
“Potential investors and purchasers will now start to come through the gate and I am confident they will like what they see.”
Commenting on confirmation of the EU round table set for 15 May in a letter from European Energy Commissioner Oettinger and following representations from Richard Howitt MEP and Euro MPs in other EU countries with constituencies where the Group’s refineries are based, Richard Howitt MEP added:
“If we can press for European assistance for the restructuring which can guarantee Coryton as a viable proposition for the future, it is important that we explore every avenue available to us.
“Although the Energy Minister could not confirm today he will personally join me in attending, I hope he will do so and that we can together build on the cooperation achieved to do everything possible for Coryton and its employees.”