Coryton refinery closed down!!!

[ATTILADHUN]

I wonder why don't the government just take this refinery from Swiss Company and nationalised it... Every sale of petrol make from it can cover the government coffer which deficit level is on the rise. The workers still have the job and we still have the petrol, everybody happy.. Every little helps!!!!

[mm1971]

This is the danger of privatisation. There's nothing the Government can do, except buy the thing. The owners are going bankrupt. Doesn't matter if the refinery is vital, or profitable, it's clearly not enough to keep the entire company at float.

Let's just hope this doesn't befall, for example, the French company which owns various British power stations, eh?

[SeaJayPea]

Woah. It's not closed down. It's operating and will continue to do so. The Swiss company that owns it has been placed into receivership. Coryton is the most profitable part of its operation and there's no way the receivers will allow such a valuable asset to cease production.

It's never been a nationalised concern, and so there's never been a privatisation. It was owned by Mobil Oil from 1950 until that company's European operations merged with BP in 1996. BP operated it until they sold it to this Swiss mob, Petroplus, in 2007. Chances are, they over-extended themselves with the purchase. Somebody else will most definitely keep it going. There's no need to worry just yet.