Refineries: Grangemouth

Department for Energy Security and Net Zero written question – answered at on 5 November 2024.

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Photo of Brian Leishman Brian Leishman Labour, Alloa and Grangemouth

To ask the Secretary of State for Energy Security and Net Zero, what information his Department holds on the potential amount of funding required to keep the Grangemouth oil refinery in operation for the next 12 months.

Photo of Michael Shanks Michael Shanks Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)

Grangemouth refinery is a private business owned by Petroineos. Petroineos stated that its shareholders have invested more than $1.2bn since 2011 to maintain the refinery’s safe operation, recording losses in excess of $775m during the same period. The company made clear that there was no viable commercial future for the refinery operation at Grangemouth.

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