Auto Amazon Links: No products found. Blocked by captcha.
Crispin Rolfe & Holly Phillips reported on the recent halt in production at a Lincolnshire oil refinery, as confirmed by the government. The Lindsey Oil Refinery, located near Immingham, came under the control of the Official Receiver in June following the administration of its owner, Prax Group, which put 420 jobs in jeopardy. Unite regional co-ordinator Harriet Eisner revealed that the supply of crude oil had been depleted by Friday.
Energy Minister Michael Shanks had previously acknowledged the absence of any viable offers for the complete acquisition of the refinery, leading to the decision to gradually cease operations. The Official Receiver will be in charge of selling refined products for several weeks to allow buyers to adjust their supply chains accordingly. Despite calls from North Lincolnshire Council’s leader, Rob Waltham, to prolong the refinery’s operation in anticipation of a potential buyer, the closure was deemed imminent, risking numerous jobs within the refinery and its associated supply network.
The refinery’s financial struggles, amounting to approximately £75m in losses over three years, were ultimately the catalyst for Prax Group’s plunge into administration. Shanks expressed the government’s disappointment with the dire circumstances in which the owners had left Prax Lindsey Oil Refinery. While efforts were underway to attract buyers for individual assets under the supervision of the Official Receiver, Shanks emphasized that all directly impacted employees at the refinery were assured job security in the forthcoming months
Read the full article from The BBC here: Read More
Auto Amazon Links: No products found. Blocked by captcha.