Government injects £120m into Ineos’s Grangemouth plant Energy The government has piled over £100m into Britain’s last remaining ethylene plant in Grangemouth, saving hundreds of livelihoods after its owner warned that sky-high energy costs had left it on the brink of closure. Ministers inked a “landmark partnership” with Sir Jim Ratcliffe’s Ineos on Wednesday to secure the future of the Falkirk plant, which [...]
Government calls for investigation as Lindsey refinery owner folds Energy The government has called for an urgent investigation after the group behind one of Britain’s largest oil refineries collapsed into administration, putting hundreds of jobs at risk. State Oil – the parent company of Prax Group, which owns the Lindsey refinery in North Lincolnshire – appointed administrators on Monday. A separate winding-up order has also [...]
Sir Jim Ratcliffe: Businesses can’t afford ‘heavy blow’ of net zero taxes Economics INEOS founder Sir Jim Ratcliffe has slammed UK net zero policies as unaffordable and claimed carbon taxes are “killing manufacturing”. The Manchester United co-owner described payments to be made by INEOS’ Grangemouth as part of the UK Emission Trading Scheme (ETS), which puts a financial cost on carbon emissions, as “yet another tax bill” that [...]
Labour MP calls for action over Grangemouth oil refinery April 12, 2025 A Labour MP has urged the UK Government to intervene to help the Grangemouth oil refinery remain open, saying there are “striking similarities” between the plant there and the Scunthorpe steel plant. Brian Leishman said he hoped the UK Government would nationalise British Steel and take the plant at Scunthorpe “under Government control” – but [...]
Grangemouth: Green future for oil refinery needs £3.5bn, report finds March 19, 2025 Delivering a green future for the Grangemouth oil refinery will require around £3.5bn in private investment, a report has found. The long-awaited Project Willow study, which itself cost £1.5m, sets out nine options for the future of the industrial cluster in central Scotland. Hundreds of jobs are set to be lost this year when the [...]
Grangemouth: Green projects at oil refinery site could cost £13bn March 12, 2025 Plans for new green projects at the Grangemouth oil refinery site in Scotland could reportedly cost up to £13bn. A feasibility study of possible options for the site – dubbed Project Willow – has listed nine opportunities including recycling plastics and producing biomethane, to create a “flourishing low carbon hub” over the next two decades, [...]
Ineos boss Sir Jim Ratcliffe: UK chemical manufacturing ‘having the life squeezed out of it’ January 13, 2025 Ineos boss Sir Jim Ratcliffe has warned British chemicals manufacturing is having the “life squeezed out of it” by the government, and is on the verge of extinction. The business titan slammed the de-industrialising of Britain, which started in the 1970s and 1980s, and criticised the government for a lack of energy strategy and high [...]