Only Oil Refinery in Scotland Closes With 400 Jobs Lost

Around 400 jobs will be lost when Grangemouth, Scotland’s only oil refinery, closes in the second quarter of 2025. Petroineos confirmed on Thursday that it would cease refinery operations and would transition to a finished fuels import terminal and distribution hub, subject to consultation with staff. The company, which is owned in partnership by British company Ineos and the Chinese state-owned PetroChina, had said last year that the site “faces significant challenges due to global market pressures and the energy transition.” The number of staff is expected to fall from 475 to 75 in the next two years. Grangemouth is the oldest of the UK’s six refineries and supplies 65 percent of Scotland’s oil products, including petrol and diesel....