Seems to me that they are laying the groundwork with the Spanish...

Seems to me that they are laying the groundwork with the Spanish authorities to either:

a. Close the refinery on the basis of enduring losses and structurally unsustainable economics
-Sure the JV would have to fund the upfront costs of closure, but this would ultimately manifest itself in higher prices down the track as demand and supply were brought into better alignment further up the cost curve

or

b. Get the Govt's help to tweak the economics in the JV's favour (could be import duties on inputs, labour concessions, energy concessions) etc etc

The reason it's market sensitive is that they are clearly intimating that they either get help to fix the economics or they are closing it. the status quo cannot remain.