Correspondent, London
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Oct 21, 2013

Britain’s Grangemouth oil refinery on brink of closure

LONDON, Oct 21 (Reuters) – A major British oil refinery was
on the brink of permanent closure on Monday due to a bitter
industrial dispute and strong foreign competition set against
poor European demand in a sector overpopulated with plants.

Workers at Grangemouth, Scotland’s only refinery, were set
to reject the latest offer from owners Swiss-based Ineos in a
dispute over pensions and benefits, with a 1700 GMT deadline
looming, the Unite union said.

Oct 21, 2013

Majority of workers set to reject Ineos Grangemouth offer-union

LONDON, Oct 21 (Reuters) – A majority of workers at the
Grangemouth refinery and petrochemical plant in Scotland will
reject the offer of reduced terms and conditions from the
plant’s operator Ineos, the Unite union said on Monday.

“I’ve been told that only around 300 people so far have
accepted the company’s offer, which is just around one in five
of the workforce so it’s a very small amount,” Pat Rafferty,
Scottish secretary of Unite, Britain’s largest union told
Reuters.

Oct 21, 2013

Oil dips under pressure from supply outlook

LONDON, Oct 21 (Reuters) – Oil fell on Monday amid pressure
from strong supplies, with losses limited by expectations that
the U.S. Federal Reserve will delay curbing its money printing
programme until next year, helping shore up the demand outlook.

Investors awaited the release of delayed U.S. government oil
inventory data later in the day, expecting the figures to point
to increasing supply after private-sector API numbers last week
showed a rise in stocks.

Oct 17, 2013

Ineos gives Grangemouth workers pension ultimatum

LONDON, Oct 17 (Reuters) – Ineos said on Thursday that the
Grangemouth refinery and petrochemical plant it operates in
Scotland can only re-open if workers next week accept cuts in
pensions benefits and changes to union representation.

The company and its workforce remain entrenched in a bitter
dispute that could end in the closure of a second UK refinery in
two years after Coryton, in the east of England, shut in 2012.

Oct 17, 2013

Grangemouth can reopen if workers accept pension cuts-Ineos

* Ineos proposes pension cuts

* Says cost cutting vital for plant’s survival

* Workers have until Monday to respond

By Simon Falush

LONDON, Oct 17(Reuters) – Ineos said on Thursday that the
Grangemouth refinery and petrochemical plant it operates in
Scotland can re-open next week if workers accept cuts in
pensions benefits and changes to union representation.

Ineos said on Wednesday that it was closing the 210,000
barrel per day refinery, and that no move to re-open it would
begin until they had a response from workers to proposed changes
to terms and conditions.

Oct 17, 2013

Oil falls towards $110 hit by stock build, Iran progress

LONDON, Oct 17 (Reuters) – Oil fell towards $110 a barrel on
Thursday, as U.S. inventory data pointed to a well-supplied
market, and as investors took money off the table ahead of a
deluge of data held back by a government shut-down in the United
States.

Progress in talks over Iran’s nuclear programme also helped
pressure crude oil futures since an agreement with the West
could bring more of its oil into the market.

Oct 16, 2013

Grangemouth refinery shut, reopening uncertain-Ineos

LONDON, Oct 16 (Reuters) – A refinery that provides most of
Scotland’s fuel and is crucial to the pumping of crude oil from
the North Sea has been shut down and whether or not it reopens
is uncertain, its operator Ineos said on Wednesday.

The company said earlier this week it had begun winding down
operations at the 210,000 barrel a day refinery and
petrochemical complex ahead of a planned strike by Unite union
members over the treatment of a union representative. Unite
called the strike off earlier on Wednesday.

Oct 16, 2013

Strike at UK’s Grangemouth refinery called off -union

LONDON, Oct 16 (Reuters) – A strike at the Grangemouth
refinery in Scotland, which was due to start on Oct. 20, was
called off by the Unite union on Wednesday, although the dispute
that caused the action remained unresolved.

The refinery provides most of the fuel for Scotland, and is
also crucial to the pumping of crude oil from the North Sea.

Oct 15, 2013

UK refinery strike talks resume, Forties flows could suffer

LONDON, Oct 15 (Reuters) – Talks to avert a 48-hour strike
at the Grangemouth refinery in Scotland resumed on Tuesday amid
an atmosphere of hostility between operator Ineos and the Unite
union, raising the chances of disruption to North Sea crude oil
flows.

Concerns are growing that a walkout at the 210,000 barrel
per day refinery will lead to a repeat of a similar strike in
2008 that interrupted flows of crude through the Forties
Pipeline System (FPS), pushing up Brent crude oil futures.

Oct 11, 2013

Workers at UK’s Grangemouth refinery to stage 48-hour strike

LONDON, Oct 11 (Reuters) – Workers at the Grangemouth
refinery and petrochemical plant operated by Ineos
in Scotland will go on a 48-hour strike from Sunday Oct. 20, a
union source said, potentially disrupting the flow of Brent
crude from the North Sea.

The shutdown is likely to force a closure of the North Sea’s
Forties Pipeline System as the Kinneil oil processing terminal,
where oil from the Forties field comes ashore, relies on
Grangemouth for its steam and power.

    • About Simon

      "I am a senior correspondent at Reuters in London, working on the energy desk covering the oil market, both physical and futures, with a particular focus on oil products. I have been at Reuters since January 2007, and did stints on the foreign exchange and stockmarkets desk before moving to commodities. I sometimes write lifestyle pieces, and have a particular interest in food and literature."
      Joined Reuters:
      2007
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