HSTEd
Veteran Member
- Joined
- 14 Jul 2011
- Messages
- 20,367
The problem is that the oil on site is not the property of the refinery, it is the property of the supplier because it has not been paid for.Lindsey is in Administration, presumably, so it can still operate whilst buyers/new finance are/is found? If it turns out that there is an absence of either, then the company would be wound up, with Lindsey either being sold separately by the Administrators or shut down. The reports of low levels of shipment suggest that the plant has been running at reduced or reduced output for some time before the news about Administration emerged?
Consequently, for several days it was impossible to actually sell product because it wasn't the refineries' to sell.
I believe an agreement has now been reached to allow the product to be sold with a lien of some kind to ensure the oil is paid for.