Insight
Petroineos announces Grangemouth refinery closure
Report summary
On 22 November 2023, Petroineos announced the conversion of Grangemouth, Scotland’s only refinery, to an import terminal. The refinery is expected to cease operations in mid-2025. The 150 kb/d site, which mothballed one CDU and its FCC in 2020, now has a hydrocracking configuration. But NWE hydrocracking margins are expected to see strength in the near-term - so what's the reasoning behind the closure announcement? This Insight explores the rationale.
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