Scotland's only oil refinery, located in Grangemouth, is set to close in 2025, resulting in the loss of approximately 400 jobs as the site transitions to a fuels import terminal. Operator Petroineos cited ongoing economic challenges and significant financial losses since 2011, despite investing $1.2 billion, as key reasons for the closure. The refinery, which processes North Sea Forties crude and U.S. WTI Midland, has become uncompetitive against modern facilities in other regions. Local trade unions and politicians are opposing the closure due to its potential negative impacts on the economy and energy security. While the refinery will cease operations, Petroineos plans to retain about 75 jobs for the new terminal and continue other operations at the site. Discussions are also underway regarding potential future uses of the site, including carbon capture and sustainable fuel production.