In an interesting piece, Man in a Shed takes a pessimistic view, arguing that "the UK must not lose another refinery". However, in complete contrast, Christophe de Margerie, the CEO of Total says that he believes the current financial woes of Petroplus confirm the view that there is considerable overcapacity in Europe's refining sector. Far from being a disaster, Petroplus' demise could ease supply conditions and help boost margins.
From the Chairman of the, what a surprise, French company who stands to gain most from the situation.
If it is not Total, it is EDF, GDF Suez, La Poste, water companies and so on that are stealthily worming their way into basic UK infrastructure while keeping their markets intact. And let's not forget E.On and the wind turbine people. This is little more than a continental takeover to my mind.
Why the British government allow this is beyond me. Is The City all that counts now? Well, with Barnier 'in charge' now, they might not be holding on to that for very much longer either at this rate.
BP should buy the refinery, the govt should help them to make sure it becomes British again, just in the same way as the French are doing their utmost to keep SeaFrance French. Whatever it takes
Goose for gander, and all.