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Petroineos announces Grangemouth refinery closure
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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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