Grangemouth’s record £100 million profits branded a ‘slap in the face’ for Fife workers

Grangemouth oil refinery’s record profits of more than £100 million were branded a “slap in the face” for Fife workers at risk of losing their jobs when it closes.

Petroineos, who own the site near Falkirk, announced in November they plan to cease operations in 2025 since it was becoming economically unviable.

Yet The Herald has reported that the multinational firm made profits of £107 million before taxes, reversing a significant loss from the year before.

The oil refinery directly employs more than 500 staff, including dozens who travel to the plant from Fife.

Scottish Greens MSP Mark Ruskell.

Mid Scotland and Fife Greens MSP Mark Ruskell said: “This is yet another massive slap in the face for workers in Grangemouth.

“Workers and their families in the Forth Valley and across Fife have given decades of their lives to the Grangemouth plant, and now whilst the corporate giants are turning over huge profits they are turning their backs on the communities who built them.”

Petroineos plans to transform the refinery into a fuel port terminal.

Trade union bosses have insisted they will work hard to protect all jobs at the site.

It was previously warned small businesses in Fife who are part of the supply chain into Grangemouth could be hit by the closure.

Alex Rowley MSP Mid Scotland and Fife
Labour MSP Alex Rowley.

MSP Alex Rowley, who also represents Mid Scotland and Fife, said: “Grangemouth is vital for Scotland’s energy sector and for employment in Fife.

“It’s time for ministers to get around the table with workers and their unions and act to protect jobs.”

At the time when closures were announced, Petroineos said nothing would change immediately at the refinery.

The firm said the unwelcome move was a “necessary step” as Scotland moves away from fossil fuels to renewables.

The Ineos group was contacted for comment after the firm’s Grangemouth profits were revealed.

In December, MSP Mr Ruskell led demands for an urgent summit to be hosted on the future of Mossmorran’s gas plant.

He said a blueprint was needed to ensure Scotland’s oil and gas workers are not abandoned following the news from Grangemouth.

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