UK: Scotland’s Only Oil Refinery To Cease Production

Scotland’s only oil refinery could cease operations as soon as 2025 under plans announced by owners Petroineos.

The company said Grangemouth had been facing significant challenges because of global market pressures.

Petroineos intends to turn the site into a fuels import terminal which would result in the loss of at least 400 jobs.

Work to transform the site is expected to take 18 months.

The refining business at Grangemouth is owned by Petroineos which is a joint venture between Chinese state-owned PetroChina and London-based Ineos.

About 2,000 people are directly employed at Grangemouth including 500 at the refinery, 450 on the Forties pipeline from the North Sea and a further 1,000 in the Ineos petrochemicals business.

Some 100 staff would be needed for the planned import terminal.

BBC