The UK government said it is "stepping up plans" to support workers at the Grangemouth refinery ahead of its closure, but a leading union has criticised the support package as "smoke and mirrors".
The mystery buyer behind a potential bid for the Grangemouth refinery has been revealed as Canadian businessman Garth Reid, according to media reports.
UK energy minister Michael Shanks has urged North Sea investors to "look beyond" the government's proposed windfall tax, despite warnings the oil and gas sector is "under threat".
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.
Grangemouth operator Petroineos has confirmed Scotland's only oil refinery will cease operations in the second quarter of 2025, leading to a net loss of 400 jobs.
There is a “massive opportunity” for the Grangemouth industrial cluster after the oil refinery there closes next year, the Scottish Government’s acting Net Zero Secretary has said.
The UK is a good candidate for a new terminal to import liquefied natural gas because of growing demand and the desire to kick its dependency on pipeline supplies from Europe, the project developer said.
Securing the future of the Grangemouth refinery is “one of the greatest tests the just transition process will ever face”, a union has said ahead of a march calling for its lifespan to be extended.
The Scottish government has announced £2 million in funding for the Acorn carbon capture and storage (CCS) project centred on the St Fergus gas terminal.
Accelerated action and intensive work is needed to avoid a “disorderly and unjust transition” when Scotland’s only oil refinery closes, a report has warned.
Grangemouth should be a home for the energy industries of the future, Scottish Labour’s deputy leader has said, after Sir Keir Starmer pledged he would work to safeguard jobs there.
“Don’t give me promises of green jobs, if you can't tell me what qualifications I need, where will the jobs be based, when can I apply for them and how much the pay is.”
Grangemouth, Scotland’s last remaining oil refining capacity, could close as soon as 2025 amid a reported decline in North Sea oil output and falling demand for fuels.