Swiss commodities trader Glencore has initiated discussions with the British government regarding its supply contract with the Lindsey refinery, placed under insolvency this week, threatening hundreds of jobs and the UK’s energy security.
International commodities trader Glencore has started negotiations with the British government to determine the future of its crude oil supply contract with the Lindsey refinery, recently placed under administration.
Increased economic and energy risk
The Lindsey refinery, with a refining capacity of 113,000 barrels per day, was previously owned by the Prax Group, which was declared insolvent earlier this week. The simultaneous insolvency of Prax and its parent company directly impacts several hundred…