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Petroplus Refining & Marketing Ltd, Coryton refinery

Energy Minister Charles Hendry today chaired a third meeting of interested parties to discuss the future of the Coryton refinery. The meeting took place at the Department of Energy and Climate Change in Central London. Local politicians, industry, unions and regulators were among those present.

Following the meeting, the Minister said: "The administrator updated those present on their work to keep refining operations going as the effort continues to find a buyer for the refinery."

"The strong levels of interest in investing in Coryton reaffirms our belief that there is every chance that a sustainable long-term commercial solution can be found."

"I want to emphasize my ongoing appreciation for the collaborative approach taken by the Unions, the refinery’s management, the administrator and others involved."

 

Ends

Notes to editors:

 

1. UKPIA represents ten oil refining and marketing companies that operate the 8 major oil refineries in the UK; the refineries processed 73 million tonnes of crude oil and produced 75.4 million tonnes of refined products in 2010 (Source: DECC- DUKES data). UKPIA members also own around 2,200 of the 8,787 filling stations in the UK.

 

2. Coryton is situated 30 miles from London, on the Thames Estuary, well located for deep water, road and pipeline facilities. It is a complex refinery with various processing units that give it a capacity of over 9 million tonnes per year, with the ability to process 172,000 barrels of crude oil per day and 70,000 barrels of other feedstocks. Crude oil storage amounts to 4 million barrels, with five jetties capable of handling tankers up to 250,000 ton deadweight. Products are moved by road, water and pipeline (nearby connection to the UKOP Thames/Mersey pipeline). On 1st June 2007, BP completed the sale of the refinery, adjacent terminal and bitumen business to Petroplus Holdings AG, Switzerland.

 

3. Facts and figures

Refining capacity: 10 million tonnes per year

Output: Accounting for approximately 10% of the UK fuels’ market

36% - Petrol

27% - Diesel

11% - Kerosene & Jet Fuel

17% - Fuel Oil

04% - Lubes & Specialities

03% - Bitumen

02% - LPG

 

4. PwC contact

Katherine Howbrook

Government & Public Sector, Business Recovery and Economics, PR Manager, PwC

Tel: 020 7212 2711

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