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Grangemouth oil refinery to shut, putting 500 jobs at risk
The Guardian
|November 23, 2023
Grangemouth oil refinery is to cease operations as soon as 2025 under plans announced by its owner, Petroineos, a joint venture between the Chinese state-owned oil firm PetroChina and the Ineos petrochemicals empire owned by Monaco-based British billionaire Sir James Ratcliffe.
Amid warnings that the plan will diminish Scotland's industrial base, trade unions and politicians raised concerns about the job security of the more than 500 people directly employed at the site near Falkirk and the impact on fuel supplies.
Petroineos, which has discussed its plans with the UK and Scottish governments, said it had to adapt to global pressures affecting the refining market.
The company said it hoped to transform Grangemouth, which already imports liquefied natural gas (LNG) from the US, into a pure fuel import and export terminal within 18 months. It will also explore "lowcarbon" options including refining biofuels at the 99-year-old refinery.
Denne historien er fra November 23, 2023-utgaven av The Guardian.
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