Grangemouth oil refinery confirmed to close next year

Published On Sep 12, 2024, 5:41 AM

Petroineos has announced the closure of Scotland's only oil refinery, Grangemouth, by summer next year, resulting in approximately 400 job losses. The decision is attributed to the refinery's inability to compete internationally and a significant decline in fuel demand due to the anticipated transition away from petrol and diesel vehicles. Although the site will be repurposed into a terminal for importing fuels, it will operate with a drastically reduced workforce of around 100 employees. The closure is viewed by local leaders and unions as a failure of both the Scottish and UK governments to provide adequate support for the workforce and to establish a clear plan for a sustainable industrial future at the site.