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The Coryton oil plant in Essex is the biggest provider of petroleum and diesel in the south east, but this plant may have to close as the company has failed to find a buyer. The company was put into administration in February, but a deal with financiers kept the plant running for a further three months. However, this time was now expired. With this in mind, the administrators are still looking for a buyer and are hopeful they can strike a deal. Unless a buyer has found the plant will close sometime in late May 2012.
With a couple of leading oil traders dropping out of the bid it looks like the plant will be closed and turned into a storage terminal, which means 1,000 jobs will be lost.
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