“The Secretary of State is today writing to the Insolvency Service to demand an immediate investigation into the conduct of the directors, and the circumstances surrounding this insolvency,” Shanks also said, adding that Prax Group had left the government with “very little time to act” on finding a way to save the refinery. He further slammed the owner for putting the refinery in an “untenable position” and called on the company to provide financial support for the refinery workers.
One of the North Sea’s biggest gas producers is threatening to end investment in Britain because the tax regime has become too unstable to support offshore energy producers.
Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East.