Grangemouth oil refinery future to be discussed at 'critical' meeting

18 January 2024 , 09:10

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Talks are being held today about the future of Grangemouth oil refinery (Image: PA Wire/PA Images)

A "critical" meeting to discuss the future of the Grangemouth oil refinery is set to take place today, involving ministers from both the Scottish and UK Governments.

The head of Falkirk council, union representatives and owners Petroineos will also participate in the online forum. Last year, it was announced that the refinery would shut down and transition into an oil import terminal, sparking fears for hundreds of jobs.

Petroineos stated that the refinery is "highly inefficient" and can't continue operating at a loss. However, it will remain operational until at least spring 2025, and other parts of the Grangemouth complex, such as the Forties pipeline system which brings in North Sea oil and gas, will continue.

The meeting, chaired by the Scottish Government's Energy Secretary Neil Gray, will focus on ensuring a just transition for Grangemouth. Mr Gray said: "I believe we can collectively work to ensure that there is a positive future for the site, for the workforce and for Scotland's economy."

He added: "The Scottish Government is committed to ensuring a just transition for Grangemouth. The future of the refinery will play an important part in that and we recognise that we cannot do this alone.

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"That is why I am today convening this critical meeting. It requires each of this new forum's membership to play a part, to engage constructively and collaborate to ensure our shared interests and ambitions are realised."

Scotland's UK Government minister John Lamont said: "This is a difficult time for those workers who are facing uncertainty, along with their families, and the communities around the refinery. The repurposing of Grangemouth Future Industry Board is an opportunity for the UK and Scottish governments to come together with representatives from Petroineos, and the local area as we seek assurances on how employees are being supported and explore how the long-term future of the site will continue to contribute to the local economy."

Also participating in the meeting is UK Minister of State for Climate Graham Stuart.

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Lawrence Matheson