Coryton Petroplus closure could cause problems for Essex economy say business leaders

ESSEX FSB (Federation of Small Businesses) has called for Essex Members of Parliament to act fast to keep the Coryton Oil Refinery at Stanford-le-Hope as its closure could have a ripple effect throughout the Essex economy.

Essex FSB Chairman, Iain Wicks, said: “Closure of the Coryton Refinery would have a major impact, not just for the 1,000 or so staff who could lose their jobs but also for many local businesses.

“Those staff and their families will, quite understandably, be already reducing their expenditure which will mean less being spent in local shops, pubs, restaurants and leisure facilities and if Coryton does close that knock on effect will escalate.

“But there are also other businesses in the supply chain for Coryton who will lose out, these could range from cleaning and maintenance contractors through to haulage firms and office supply companies.

“There is also the possible impact on fuel prices if Coryton is unable to continue as it supplies around one sixth of the fuel to the London and south east corridor so increased fuel prices mean increased costs for all businesses.

“Essex FSB wants to see swift action taken to find a new owner for the Coryton refinery and we have written to Members of Parliament in South Essex asking them to take what action they can to make this process happen as soon as possible.”

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