Coryton

PricewaterhouseCoopers said Tuesday that two of its partners have been appointed joint administrators of the Petroplus subsidiaries in the U.K., where the company's refinery at Coryton in Essex supplies about 10% of Britain's fuel market and is a big supplier of jet fuel to the country's biggest airport, Heathrow.

Petroplus to File for Insolvency Konstantin Rozhnov 2012

It kept Coryton and Ingolstadt in Germany—its two most profitable and attractive refineries in the event of a sale— running at reduced rates.

Petroplus to File for Insolvency Konstantin Rozhnov 2012

PwC said its immediate priority is to continue to operate the Coryton refinery and the Teesside storage business in the northeast without disruption while Petroplus's financial position in the U.K. is clarified and restructuring options are explored.

Petroplus to File for Insolvency Konstantin Rozhnov 2012

"She was present at Drax and Heathrow climate camp actions, against Coryton oil refinery and various anti-capitalist gatherings and protests," she added.

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Coryton is still operating, but shipments of refined products have been halted, U.K. government and trade-union representatives said.

Petroplus to File for Insolvency Konstantin Rozhnov 2012

"Over coming days we intend to commence discussions with a number of parties including customers, employees, the creditors and the government to secure the future of the Coryton and Teesside sites," said PwC partner and joint administrator Steven Pearson .

Petroplus to File for Insolvency Konstantin Rozhnov 2012

BP PLC, which sold the facility to Petroplus for $1.4 billion in 2007, is a major customer of Coryton, buying most of the refinery's products to supply its retail gasoline operations in England.

Petroplus to File for Insolvency Konstantin Rozhnov 2012

Petroplus's Coryton refinery in the U.K. and Ingolstadt refinery in Germany are its most efficient, and the only two still operating after Petroplus lost access to all its credit lines in January.

Petroplus Gets More Interest for Refineries Selina Williams 2012

However, BP controls the largest total amount of refining capacity, with facilities in Grangemouth, Scotland (196,000 bbl/d) and Coryton, England (163,000 bbl/d).

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However, last week he told an undercover reporter that for the past 11 months he had been using a team of Polish workers to restore his grade II listed home in the west Devon village of Coryton.

Oh, whoops! Richard 2006