Oil Refinery Files for Bankruptcy
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Oil Refinery Files for Bankruptcy
Oil Refinery Files for Bankruptcy
24-01-2012 4:55 PM
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Refinery
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 5:03 PM
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Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 5:05 PM
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Funny how they say prices will rise. Any other business goes bust prices always fall as the bankrupt stock is sold off cheaply.
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 5:10 PM
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Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 5:11 PM
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The theory says that if demand goes up, the price goes up, and if demand goes down, the price goes down.
The news said that Coryton has gotten into trouble, because the the demand for fuel is going down, while the price of oil is going up. So basically the oil companies can ignore the market and charge what they like. They then sell the oil to themselves at over inflated prices, charge more for the product that actually needs less refining (diesel), and then pass the overinflated costs on to the motorist and haulier, who has no choice but to pay it.
The oil companies then get more profit for selling less.
What's wrong with this picture?
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 5:50 PM
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Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 6:05 PM
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Quote from: artmo The Coryton refinery in Essex has filed for bankruptcy.
No, it's owners in Switzerland are the ones that have done that.

Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 6:30 PM
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My old company and Petroplus did a project together to provide Biodiesel in the NE of England

So they have been in difficulty for a least a couple of years
To be is to do - Kant
do be do be do - Sinatra
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 6:47 PM
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Quote from: artmo It is still working but nothing is leaving the site
The news showed BP tankers still driving onto and around the site. Unless that was old footage.
If the place does shut up shop I suppose the fuel will get sold off cheap. Cheap to other petrol companies who will sell it on at the usual government assisted over inflated price.
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
24-01-2012 7:45 PM
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Customer and Forum Moderator.
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
25-01-2012 7:21 AM
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Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
25-01-2012 8:56 AM
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Corytown do not own any of the fuel they process, Petroplus only do the processing, and they are making a profit in Essex.
they are still processing, there is a temporary hold up on movements while confirming who is paying for what.
Multi firms, and self employed are driving the tankers
there has already been interest in the take over from Petroplus
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
25-01-2012 10:17 AM
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Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
25-01-2012 11:55 AM
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There is over capacity in refining in this country I heard on the radio this morning and our refineries are under immense pressure from larger and more efficient refineries in such places as China.
BP and Shell are the two major users of Coryton and they have both said they have already made contingency plans to get supplies from elsewhere.
Re: Oil Refinery Files for Bankruptcy
Re: Oil Refinery Files for Bankruptcy
25-01-2012 7:22 PM
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