Following the news that the Prax Lindsey Oil Refinery has been placed under administration, Elizabeth de Jong, chief executive officer of Fuels Industry UK expressed her concerns.
She said: “It is hugely sad to hear that the refinery at Lindsey has begun insolvency proceedings, which is another blow for the UK’s refining sector following the closure of Grangemouth refinery just months ago.
“We have told UK Government the severe challenges that our sector faces and the policy changes that can keep our remaining refineries competitive. We must now see a shift towards delivering the changes that can make a difference – inclusion in the Carbon Border Adjustment Mechanism and addressing hugely expensive industrial energy and carbon costs - to put us on an even playing field with the rest of the world.
“The statement from Minister Shanks committing government to reviewing the eligibility of refineries for the Energy Intensive Industries Compensation Scheme for indirect emissions trading costs is a positive first step, which must be followed up by other concerted actions to address the lack of competitiveness in the UK refining sector.”
‘Severe challenges’ facing oil refinery business, CEO reveals
