Grangemouth bosses have failed to rule out more job losses at Scotland’s largest industrial site following the closure of its oil refinery. More than 400 highly-skilled workers are set to face redundancy when refining operations on the banks of the Forth come to an end next year after over a century of operation. Senior figures at Ineos have acknowledged that further roles may be at risk once a review of shared services at the site is completed.
The closure-threatened oil refinery at Grangemouth, a joint venture between Ineos and PetroChina, is scheduled to shut down in spring 2025. However, the petrochemical plant at the site, solely owned by Ineos, will continue production as usual. SNP MSP Michelle Thomson, who represents Grangemouth, sought clarity from bosses on any potential future job cuts. Colin Pritchard, an external affairs director at Ineos, suggested that jobs related to shared services such as security, emergency response, and lab functions might be affected.
The refinery business is expected to be transformed into a fuels import and export depot, likely requiring only 75 jobs. At a meeting of the Scottish Parliament’s economy committee, a Petroineos official assured that the site’s supply chains would remain robust even in light of recent geopolitical events, including the US presidential election.
Petroineos confirmed that it had not received any credible bids from third parties to purchase the Grangemouth refinery and keep it operational. Both the UK and Scottish Governments have previously stated that public funding will not be used to sustain the refinery. Meanwhile, Labour MP Brian Leishman has called for the nationalisation of the site, opposing its scheduled closure.
Insights and Summary:
The closure of the oil refinery at Grangemouth is set to have significant implications for the local workforce and the industry as a whole. The uncertainty surrounding potential job losses and the future of the site raises concerns about the economic impact on the region. The shift towards a fuels import and export depot reflects broader changes in the energy sector, highlighting the need for adaptability and innovation in the face of industry challenges. It is essential for stakeholders to work together to explore sustainable solutions that support both workers and the site’s long-term viability.