UKPIA said it is saddened by the news from Price Waterhouse Coopers that PRML Coryton Refinery appears destined to cease refining operations shortly with the consequent loss of jobs and supply infrastructure.

"Our thoughts are with the staff and contractors, many of whom have been employed at the site for several years, if not decades," said Chris Hunt, director general of UKPIA.

UK and European refining is facing extremely challenging operating conditions and strong pressure on economic returns. Against this backdrop, finding a buyer for Coryton may have proved too difficult a task for the administrators."

UKPIA and its member companies will continue to work with the Department of Energy and Climate Change to ensure that any potential impacts upon supplies are minimised.