Petroineos: Sir Jim Ratcliffe-backed energy giant loses $250m Energy Petroineos, the energy trading company backed by Sir Jim Ratcliffe, lost $250m (£187.5m) in 2024 as it slumped into the red for the first time since 2020, it has been revealed. The Jersey-based business has reported the pre-tax loss after posting a profit of $30m in 2023. The results for the previous financial year were [...]
Profit slump revealed at Jim Ratcliffe-backed Petroineos ahead of major closure Business Profitp at Petroineos slumped in the months leading up the closure of its Grangemouth refinery, heavily delayed accounts have revealed, as the energy trading company wrestled with economic uncertainty, supply chain shocks and a shift away from fossil fuels. The Jersey-based business, which is backed by billionaire Manchester United owner Sir Jim Ratcliffe, posted a [...]
Grangemouth: Green future for oil refinery needs £3.5bn, report finds Politics 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 [...]