Coryton oil refinery in Essex, UK to file for bankruptcy

Hundreds of jobs at the Coryton oil refinery in Essex are under threat after Swiss owner Petroplus said it would file for bankruptcy.

Petroplus has said it will file for insolvency "as soon as possible" after failing to reach an agreement with creditors to extend deadlines for loan repayments.
The government has said the refinery, which supplies 20% of fuel for south-east England, is still operating and administrator PricewaterhouseCoopers says the priority is for work at Coryton to continue without disruption.With the Olympics coming up in a few months, supplies across London and the South East could be affected, and could impact the Olympics.
Prices are expected to rise for a number of reasons a representative of the Retail Motor Industry (RMI) has stated.
The European Union embargo on Iranian supplies of crude oil, the Coryton issues and striking tanker drivers over pay  in Lincolnshire were all creating pressure for the industry.
How much the Nigerian oil crisis has affected the Coryton Oil refinery is presently unknown.