Petroineos announces future-proofing Grangemouth reconfiguration plan

Petroineos has announced its proposal to reconfigure the Grangemouth refinery to meet the current and future anticipated demand for its fuels products. The reconfiguration will impact on the 637 current full-time roles at Grangemouth but is anticipated to retain 450 highly skilled roles at the site.
The global refining industry is facing huge challenges as increasing electrification of the transport fleet and more fuel-efficient vehicles leads to reduced demand for fuel, a trend that has been accelerated this year by the COVID-19 pandemic.
To address this, Petroineos proposes a realignment of its refining capacity at Grangemouth in line with current and anticipated future demand for fuel in Scotland, the North of England and Northern Ireland. The proposal to keep the two production plants, Crude Distillation Unit 1 and the Fluidised Catalytic Cracker Unit (FCCU) in a mothballed state will reduce future incurred costs associated with operating these two older plants.
With these changes, Petroineos believes it can have a viable longer-term business, employing up to 450 highly skilled jobs.
Franck Demay, CEO Petroineos Refining, says;
“As a national critical infrastructure it is vital we retain a productive capacity of fuels in Scotland. For almost a century the Grangemouth refinery has reliably produced high quality fuels for the domestic market and for export. We firmly believe that only by taking action now will we preserve one of Scotland’s last large manufacturing sites and a significant contributor to the Scottish economy.”
Petroineos is entering into a statutory consultation period with its workforce and their representatives to discuss its proposals.