Government Mulls Transforming Scotland’s Last Oil Refinery Into ‘Decarbonisation Hub’

Published on July 9, 2024

Scotland’s only oil refinery, which is set to close next year, could be transformed into a “decarbonisation hub,” according to Scottish Labour. Petroineos is owned in partnership by British company Ineos and the Chinese state-owned PetroChina. Last November Petroineos said that it could cease refinery operations and turn into a fuels import terminal as soon as 2025. At the time, the firm said the site “faces significant challenges due to global market pressures and the energy transition.” Around 500 workers are employed there. On Tuesday Scottish Labour’s Deputy Leader Dame Jackie Baillie said that the site should be a “home for the energy industries of the future.”...

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Canada Further Away From NATO Spending Target Than Projected: Budget Watchdog

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