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The Official Receiver has reached a woody with the commodities trading giant, Glencore, that volition guarantee supplies of crude lipid to the ailing Lindsey refinery pursuing its owner's illness this week.
Sky News has learnt that the OR - which oversees the archetypal stages of bankruptcies ordered by a tribunal - struck an statement with Glencore successful the aboriginal hours of Friday morning.
Further details of the statement were unclear.
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The woody provides a impermanent lifeline to the Lindsey refinery successful Lincolnshire portion the OR and peculiar manager FTI Consulting contention to unafraid the site's longer word future.
The works - 1 of lone a fistful of lipid refineries inactive operating successful the UK - was owned by Prax Group, whose main subsidiary, State Oil, and different entities collapsed into insolvency proceedings connected Monday.
Prax Group, which besides spans oilfield exploration and substance retailing, is owned by a husband-and-wife squad whose behaviour is present the taxable of an Insolvency Service investigation.
Ed Miliband, the vigor information secretary, ordered the probe aft the authorities was near blindsided by Prax's fiscal woes.
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Industry sources are sceptical that a purchaser volition beryllium recovered for Lindsey, which could enactment hundreds of jobs astatine risk.
Glencore has information implicit crude lipid supplied to the site, though the organisation of finished merchandise is present the work of the OR.
Glencore declined to comment, portion the OR could not beryllium reached
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