Financial statements from Grangemouth owner give ‘distorted picture’, says union

A trade union official has questioned financial statements produced by the owner of the Grangemouth refinery, saying they present a “distorted picture”.
Petroineos announced in September plans to close the refinery in the second quarter of next year, citing the plant’s commercial viability, with it due to pivot into a fuel import terminal, putting 400 jobs at risk.
According to the firm - a joint venture between PetroChina and Ineos - the refinery was losing up to £385,000 per day earlier this month and was on track for a £150 million loss this year.