logo
Minister insists fuel supplies not under threat despite oil refinery closure

Minister insists fuel supplies not under threat despite oil refinery closure

State Oil – the parent company of Prax Group, which owns the Lindsey refinery in North Lincolnshire – collapsed into administration last month, putting hundreds of jobs at risk.
Michael Shanks pledged to support the workers who are facing redundancy, but said there is little action the Government can take to improve the statutory redundancy offer.
Speaking in the Commons, he said: 'We have worked urgently to ensure the safety of the refinery site, the security of fuel supplies and to protect workers.
'This has also allowed time for bidders to express an interest in the site.
'Following a thorough process, the official receiver has rigorously assessed all the bids received and concluded that sale of the business as a whole is not a credible option.'
He added: 'A package has been offered to all those directly employed at the refinery, which guarantees their jobs and pay over the coming months.
'And alongside the usual support that is offered to workforces in insolvency situations, the Government will also immediately fund a comprehensive training guarantee for those refinery workers to ensure they have the skills needed and the support to find jobs, for example, in the growing clean energy workforce.'
The Lindsey site is one of only five large oil refineries remaining in the UK after the recent closure of the Grangemouth plant in Scotland.
Prax Group is led by majority owner and chairman and chief executive Sanjeev Kumar Soosaipillai, who bought the Lindsey oil refinery from French firm Total in 2021.
Shadow energy minister Andrew Bowie, who tabled the urgent question, claimed 625 jobs are at risk as he pressed the minister for an update on its investigation into the collapse of the company.
He also asked: 'What, if any, assessment has been made into the UK's resilience given the steep reduction in our refining capacity over the past six months?
'What, if any, assessment has been made on the increased reliance on imports that will be necessary as a result of the reduction in British refining capacity?'
Mr Shanks said fuel supplies had 'adjusted' in the past few weeks, adding: 'Our assessment suggests there isn't an immediate risk to fuel supplies locally or in the wider area, but we'll continue to monitor that.'
On the investigation, he said: 'There is not much I can update the House on at the moment, because the insolvency service is carrying out that investigation.'
Conservative MP Martin Vickers, whose Brigg and Immingham constituency includes the oil refinery, said he wanted to see 'the maximum support given to those workers'.
Mr Shanks replied: 'We have looked and pushed and pushed to see if there is more action Government can take to change or to give any additional payments.
'It's not possible for Government to do that, not least because the insolvency service has to follow very specific rules in terms of creditors and what their parameters are to operate in the event of an insolvency.
'But I do think the owners of this company have profited from this business, and they should do the right thing by the workforce that delivered that for them.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

French president and wife sue rightwing US commentator Candace Owens for defamation
French president and wife sue rightwing US commentator Candace Owens for defamation

The Guardian

time12 minutes ago

  • The Guardian

French president and wife sue rightwing US commentator Candace Owens for defamation

The French president, Emmanuel Macron, and his wife, Brigitte Macron, are suing rightwing commentator Candace Owens for defamation. In a suit filed on Wednesday in Delaware against Owens and her businesses, the Macrons say Owens has engaged in ongoing defamatory attacks against them in order to elevate her media platform, gain more audience and make money. Owens said in early 2024 that she would 'stake [her] entire professional reputation on the fact that Brigitte Macron is in fact a man'. Since then, she has doubled down on these claims and added more, including in an eight-part podcast series called Becoming Brigitte, the lawsuit alleges. The Macrons sought retractions from Owens, the suit says, for the 'demonstrably false' claims she has made about them but she instead 'mocked them and used them as additional fodder for her frenzied fan base'. 'These outlandish, defamatory, and far-fetched fictions included that Mrs Macron was born a man, stole another person's identity, and transitioned to become Brigitte; Mrs Macron and President Macron are blood relatives committing incest; President Macron was chosen to be the President of France as part of the CIA-operated MKUltra program or a similar mind-control program; and Mrs Macron and President Macron are committing forgery, fraud, and abuses of power to conceal these secrets.' 'Because Ms Owens systematically reaffirmed these falsehoods in response to each of our attorneys' repeated requests for a retraction, we ultimately concluded that referring the matter to a court of law was the only remaining avenue,' the Macrons said in a statement. 'Ms Owens' campaign of defamation was plainly designed to harass and cause pain to us and our families and to garner attention and notoriety. We gave her every opportunity to back away from these claims, but she refused. It is our earnest hope that this lawsuit will set the record straight and end this campaign of defamation once and for all.' The falsehoods have taken a toll on the Macrons, who are now subjected to 'a campaign of global humiliation, turning their lives into fodder for profit-driven lies' and 'relentless bullying on a worldwide scale'. Beyond the reputational damage, they have spent 'considerable sums of money to correct the public record', including on legal counsel. 'Every time the Macrons leave their home, they do so knowing that countless people have heard, and many believe, these vile fabrications. It is invasive, dehumanizing, and deeply unjust,' the suit says. According to the Financial Times, the Macrons are willing to appear in court in Delaware for a trial. They are represented by Clare Locke, a heavyweight law firm that has won major defamation cases, including the Dominion lawsuit against Fox News. The lawsuit came after the Macrons have sent three separate retraction demands to Owens that included evidence disproving her claims, which she has used to 'further taunt the Macrons' and 'invent even more damaging lies', a press release from Locke says. Owens has not yet publicly responded to the claims and didn't immediately respond to a request for comment.

Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment
Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment

Scottish Sun

time14 minutes ago

  • Scottish Sun

Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment

None of the money he applied for went towards his business STAR JAILED Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A DRAGON'S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion. Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home - despite receiving a £75,000 investment during his stint on the BBC show. Sign up for the Entertainment newsletter Sign up 6 Beardsell received £75,000 in investments after appearing on Dragon's Den Credit: Cavendish 6 The British world sprinting champion illegally pocketed two Covid Bounce Back business loans to buy himself a £1.8m mansion Credit: Cavendish 6 Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two Credit: Cavendish The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire. Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times. It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business, ShakeSphere. Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business. Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000. "But unaudited financial statements showed turnover for the year end February 2020 was £20,622. ''The turnover was clearly exaggerated to secure the maximum bounce back loan. "Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.'' The money arrived in Sports Creative's account in January 2021, but then almost £400,000 was transferred to Beardsell's personal Santander account in the space of six months. Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster. Mr Whelan added: ''In effect the bounce back loan funds had been used for this purchase. Shocking moment Dragons' Den winner Ross Mendham smashes £100k Ferrari after ploughing into bike racks in city centre "It can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it." Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud. In October 2024, he attended an interview under caution at the Insolvency Services offices. In a statement he said: ''The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company. ''At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. "The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.'' Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks. She said: ''The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. "These offences were out of character and were committed four years ago. "He has taken responsibility and repaid the money back. He knows that it's his own fault. "He has brought shame on his family and brought shame on himself. ''His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant." The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans. Ms Cafferkey continued: "A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. "The chemotherapy was successful but led to some significant side effects. ''One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 6 Beardsell was sentenced to 18 months in prison, suspended for two years Credit: Cavendish 6 Hundreds of thousands of pounds were transferred to a firm of solicitors for the purchase of Holly House Credit: Cavendish "The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. "On top of that there are ongoing knee pains associated with his athletic success at national and international level. "He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions. "The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia. "This will be the only time that Richard Beardsell appears before the court." Beardsell was sentenced to 18 months in prison, suspended for two years. He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70. Judge Simon Berkson told Beardsell: "You fraudulently lied and lied again in your applications for these loans. "They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. "This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. "People were in lock down, people were dying and people were very ill at the time when people required their public services. "You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. "You are a generally successful man both in business and in sports, particularly your involvement with athletics. "You continue to run your business and it was on the TV programme Dragons' Den. "You are a married person with two children and they are young children. You have survived an aggressive form of cancer. "I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.''

NOC loses judgment in a case in which it is not a party, but to appeal in final court of appeal
NOC loses judgment in a case in which it is not a party, but to appeal in final court of appeal

Libya Herald

time16 minutes ago

  • Libya Herald

NOC loses judgment in a case in which it is not a party, but to appeal in final court of appeal

‎Libya's state National Oil Corporation (NOC) issued a Press Briefing‎ today on the back of news that some of its assets abroad have been seized through a court ruling in a case in which it is not a party, but simply because this court deemed it not an independent entity but an extension of the Libyan state. The NOC said it is appealing the judgment in the final court of appeal. Here is the full statement: ‎''The National Oil Corporation (NOC) has followed up on the news circulated by some media pages on social media, a large part of which is correct, related to the cases of the precautionary seizure signed by some foreign companies on the funds and shares of the corporation in France, which obliged us to clarify the following:‎ ‎The NOC won three lawsuits, before the Paris Court of Appeal on March 13, 2025, all of which resulted in the cancellation of the precautionary reservations signed by three Swiss companies (Sysmed Travel, Jallouli Communications Group Easymedia, and Hopital de la Tour) with a total value of 35 million euros on the corporation's shares in the Mabrouk Company in France and some of its bank accounts, which were based on arbitration rulings issued in its favour by the International Chamber of Commerce in Paris against the Libyan state.‎ ‎On 10 November 2022, the Cypriot company Olin issued precautionary seizure orders on the funds of the National Oil Corporation with third parties in France, based on a final arbitration ruling issued in its favour against the Libyan state by the International Chamber of Commerce in Paris on 25/08/2018, which obliges the Libyan state to pay an amount of (24,373,175.70 euros), and the corporation demanded the cancellation of the seizure orders through a lawsuit it filed against Olin Company before the French judiciary, in which the Paris Court of Appeal ended on June 19, 2025 Issuing its judgment rejecting the NOC's request to cancel the seizure on the basis that the latter is considered an extension of the Libyan state, and that its funds do not enjoy any immunity from execution, even if it is not a party to the dispute between the Libyan state and Olin Company.‎ ‎Finally, the NOC has initiated the procedures of appealing the aforementioned judgment before the French Court of Cassation, in order to exhaust all levels of litigation to cancel the seizure of its assets, which is based on a judgment issued in a lawsuit in which the corporation was not a party.‎

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store