Coryton there is only one winner!

[Gary11]

Well it seems its a win win for the tax man add this to the Iran situation and fuel is sure to rocket with all the proceeds going in the tax mans coffers.
The government should just intervene here and compel BP to repurchase instead of holding us all to ransom (but it wont),its an essential thing fuel and handled wrongly this has the potential with other factors to bring us to our knees,fuel is too expensive end of,its peaked people cant afford it so are buying less hence overleveraged company in trouble due to 10% drop in pump spend.
The politicians need to get stuck in here before panic sets in!
G

[Blib]

The government should buy it. Bring back nationalisation, I say!

[jbi]

indeed... fuel is the lifeblood of the country.

It affects EVERYTHING, from the price of goods on our shelves, to the small independent who can't afford to put diesel in his van/pick-up

If you want to get the economy moving again, drop the price of fuel.

[RYH64E]

Someone will buy it. It's a bit like the Channel Tunnel, it might go bust but it isn't going away.

[Dogwatch]

Blib said:

The government should buy it. Bring back nationalisation, I say!

So much to learn.......


They'd:
- Overpay to get it
- Hike all salaries, especially for those at the top who are probably political 'worthies'
- Underinvest and generally run it into the ground (remember BR?)
- End up with a reduced output due to above
- flog it cheaply with generous golden goodbyes

The fewer businesses the government owns the better for the economy.

[Eric Mc]

Should the oil companies have been allowed to sell off their own refineries?

[Blib]

Dogwatch said:

Blib said:

The government should buy it. Bring back nationalisation, I say!

So much to learn.......


They'd:
- Overpay to get it
- Hike all salaries, especially for those at the top who are probably political 'worthies'
- Underinvest and generally run it into the ground (remember BR?)
- End up with a reduced output due to above
- flog it cheaply with generous golden goodbyes

The fewer businesses the government owns the better for the economy.

I was being ironic.

[br d]

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

[tonym911]

The growing disconnect between the Govt's promotion of social/employment mobility and the price of fuel urgently needs addressing. This Coryton business is a clear confirmation (if any were needed) that the tax take is too high.

[Gary11]

tonym911 said:

The growing disconnect between the Govt's promotion of social/employment mobility and the price of fuel urgently needs addressing. This Coryton business is a clear confirmation (if any were needed) that the tax take is too high.

+1
If the highest cosuming sector ie the Thames corridor cant make it pay where does that leave the others? There is over capacity for refining on the continent....

[Eric Mc]

br d said:

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

Short sightedness by the oil companies as they pursue short term profits and gains (to satisfy the city and their shareholders demands) versus long term strategic planning and corporate survival.

This has possibly been the single greatest reason for the collapse of the Western economy in recent years.

[Eversleigh]

br d said:

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

From my limited knowledge it does seem to me that most European refineries are dated and struggle to refine many different grades of crude oil; whereas the newer refineries in India/Far East can run almost any type of crude oil and given the cheap price of shipping at the moment they are just being priced out of the market.

[Eric Mc]

Eversleigh said:

br d said:

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

From my limited knowledge it does seem to me that most European refineries are dated and struggle to refine many different grades of crude oil; whereas the newer refineries in India/Far East can run almost any type of crude oil and given the cheap price of shipping at the moment they are just being priced out of the market.

Build new ones or modernise the old ones. It may mean less profit for a year or two but profit isn't everything. It's not like the oil companies are poor.

As I said, the purrsuit of profit to the detriment of all other long term business goals has helped destroy our economy.

[Eversleigh]

Eric Mc said:

Eversleigh said:

br d said:

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

From my limited knowledge it does seem to me that most European refineries are dated and struggle to refine many different grades of crude oil; whereas the newer refineries in India/Far East can run almost any type of crude oil and given the cheap price of shipping at the moment they are just being priced out of the market.

Build new ones or modernise the old ones. It may mean less profit for a year or two but profit isn't everything. It's not like the oil companies are poor.

As I said, the purrsuit of profit to the detriment of all other long term business goals has helped destroy our economy.

Agree 100% but try explaining that to the big wigs that see the return on investment in drilling big holes in the ground vs modernising refineries that are losing money hand over fist and have been for the past few years! When I am in charge things will be different!

[Halb]

Eric Mc said:

Eversleigh said:

br d said:

Eric Mc said:

Should the oil companies have been allowed to sell off their own refineries?

This has been puzzling me. And how short-sighted is it to sit back while your supply chain borks. You can have as many wells as you like but it's not much use if the means of supply to the customer isn't there.

I'm sure I must be mis-understanding this situation somewhere.

From my limited knowledge it does seem to me that most European refineries are dated and struggle to refine many different grades of crude oil; whereas the newer refineries in India/Far East can run almost any type of crude oil and given the cheap price of shipping at the moment they are just being priced out of the market.

Build new ones or modernise the old ones. It may mean less profit for a year or two but profit isn't everything. It's not like the oil companies are poor.

As I said, the purrsuit of profit to the detriment of all other long term business goals has helped destroy our society.

EFA

Nationalise it!

[tonym911]

Stand to be corrected here but is it not also true that the UK refineries specialise in diesel production and the demand for this has fallen because of its skewed pricing here vs petrol?

[tonym911]

If the Govt is determined to persist with excessive fuel tax, as seems likely, they could set an example by allowing those public sector office workers who live more than a certain distance from the office to work from home for one day a month to start with. Those who make the most of it by working efficiently at home 'earn' extra days. Those who abuse the system get it withdrawn, + a warning. That would reduce worker costs, reduce emissions and (most likely) result in better work results. Private companies could already be doing this sort of thing, with or without a Govt example.

[MX7]

tonym911 said:

Stand to be corrected here but is it not also true that the UK refineries specialise in diesel production

Coryton didn't.
Petrol 3.6 million tonnes
Diesel 2.7 million tonnes

RYH64E said:

Someone will buy it. It's a bit like the Channel Tunnel, it might go bust but it isn't going away.

Total thought someone would buy the Lindsey Refinery. No one did.


It's closing because of over-production, and according to the FT, the other refineries can step up production to cater for Coryton.

[Eversleigh]

MX7 said:

tonym911 said:

Stand to be corrected here but is it not also true that the UK refineries specialise in diesel production

Coryton didn't.
Petrol 3.6 million tonnes
Diesel 2.7 million tonnes

RYH64E said:

Someone will buy it. It's a bit like the Channel Tunnel, it might go bust but it isn't going away.

Total thought someone would buy the Lindsey Refinery. No one did.


It's closing because of over-production, and according to the FT, the other refineries can step up production to cater for Coryton.

Also Pembroke refinery makes petrol (Mogas) and little to no diesel

[thinfourth2]

But tescos still have their refinery don't they