Grangemouth refinery closure will create ‘significant economic shock’ – Swinney
The Scottish First Minister was speaking as the Scottish and UK governments announced a £100 million support package for the area.
The closure of Scotland’s only oil refinery will create a “significant economic shock”, John Swinney said, as the Scottish and UK governments promised a joint £100 million support package for Grangemouth.
Ministers at Holyrood and Westminster acted after bosses at Petroineos confirmed the refinery is to close in the second quarter of 2025, with the loss of 400 jobs.
In October 2023, the company announced its intention to transition the site to an import only terminal for fuels.
Confirmation it will close by June next year comes the company said Grangemouth has been accruing average daily losses of 500,000 US dollars (£380,000) over the last week.
UK Energy Secretary Ed Miliband said the move is “deeply disappointing” – and the Unite union branded it an “act of industrial vandalism, pure and simple”.
Unite general secretary Sharon Graham said the “dedicated workforce” at Grangemouth had been “let down by Petroineos and by the politicians in Westminster and Holyrood who have failed to guarantee production until alternative jobs are in place”.
She demanded: “The Government must put its money where its mouth is to ensure the jobs are safeguarded. This is the only refinery left in Scotland and it must remain.”
Mr Swinney meanwhile gave an “absolute” commitment to work with the UK Government “to support the workers of Grangemouth in their time of need”.
