The Grangemouth oil refinery in Scotland, owned by Petroineos, will close by mid-2025, resulting in the loss of 400 jobs. The site will be converted into a fuel import terminal due to declining demand for fossil fuels and competitive pressures from global markets. The Scottish and UK governments have pledged a £100 million support package to aid affected workers and invest in local energy projects. A potential buyer has been identified, but negotiations are ongoing. Unions and politicians have criticized the closure as premature and called for more intervention to secure the site's future. The refinery's transformation is seen as essential to safeguarding Scotland's fuel supply and adapting to the energy transition.