Frank Demay, Chief Executive at Petroineos Refining, stated that the demand for key fuels produced at Grangemouth has already started to decline. "With a ban on new petrol and diesel cars due to come into force within the next decade, we foresee that the market for those fuels will shrink," Demay said.
UK Energy Secretary Ed Miliband expressed deep disappointment over the closure announcement. His Scottish counterpart, Gillian Martin, and union leaders condemned the decision as "industrial vandalism."
Grangemouth currently accounts for about 14% of the UK's overall refining capacity, supplying motor fuels and other products across Scotland and northern England.
To mitigate the closure impact, Petroineos plans to establish an import and export fuel terminal at the site, ensuring continued supply to forecourts and other customers.
Collection
[
|
...
]