Grangemouth oil refinery to stay shutdown

Grangemouth oil refinery has been temporarily shut down by its owner, despite the cancellation of strike action by Unite earlier today.

A statement just released by refinery owner Ineos states: “Grangemouth is shut down and will remain shut down.

“Grangemouth is financially distressed. The industrial action called by Unite the Union has inflicted significant further damage on the company.

“Ineos will put a proposal to the workforce tomorrow and expects a response on Monday, after the weekend. The company will review its position with its shareholders on Tuesday.”

Ahead of the latest announcement The Petrol Retailers’ Association (PRA), the trade association representing independent forecourt retailers in the UK, had welcomed the news that Unite had called off its planned strike.

Brian Madderson, PRA Chairman, said “The news that a strike will no longer occur will be welcomed by retailers and the public alike.

“However although the immediate pressure a strike would have caused is off, the industry is still going ahead with contingency planning. Therefore, we continue to urge our retailers to keep forecourt fuel stocks above the 50% capacity level."