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Local News

Scotland’s only oil refinery Grangemouth set to cease operations – with hundreds of jobs at risk | UK News

today22/11/2023

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Scotland’s only oil refinery is set to cease operations in 2025 – with hundreds of jobs at risk under plans announced by owners Petroineos.

The firm said the Grangemouth site has faced “significant challenges” due to global market pressures and the energy transition.

Petroineos is aiming to transform the site into a fuels import terminal, with the work expected to take 18 months.

The company said the refinery is expected to continue operating until at least spring 2025.

Around 500 people are directly employed at the Grangemouth site.

The company said it was “working closely” on the project with a “range of interested parties”, including the Scottish and UK governments, and said more information would be provided in “due course”.

Franck Demay, CEO of Petroineos Refining, said: “This does not change anything for our operation today, where it is business-as-usual at the Grangemouth refinery. We currently anticipate continuing refinery operations until spring 2025.

“As the energy transition gathers pace, this is a necessary step in adapting our business to reflect the decline in demand for the type of fuels we produce. As a prudent operator, we must plan accordingly, but the precise timeline for implementing any change has yet to be determined.”

The firm said the move will “safeguard the site as a national fuel hub for decades to come”.

The preparatory work will make it possible to import petrol, diesel, aviation fuel and kerosene into Scotland from vessels arriving via the Firth of Forth.

This breaking news story is being updated and more details will be published shortly.

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