UK: Grangemouth refinery to close in 2025

On September 12, 2024, Petroineos announced that its refinery at Grangemouth will close in the second quarter of 2025. It will instead be used as an import terminal facility for refined products.

Grangemouth is one of six refineries in the UK and the only one in Scotland. It was opened in 1924 by BP and expanded its activities in the petrochemical industry in the 1950s. In 2005, Ineos acquired the site. However, the refinery itself is owned by Petroineos – a joint venture between Ineos and PetroChina. According to Petroineos, the refinery has a refining capacity of 150,000 barrels per day. It accounts for 14% of the UK’s overall refining and supplies almost 65% of demand for refined oil products in Scot