The impending closure of the Grangemouth oil refinery, announced by Petroineos, has raised significant concerns over job losses and energy security in Scotland. First Minister John Swinney criticized the decision as 'premature', suggesting it could be delayed by two to three years, and emphasized the economic impact on the region. The refinery's transition into a fuels import terminal threatens 400 jobs, prompting calls from local politicians and trade unions for government intervention to keep the facility operational. There are ongoing discussions about a potential bid from a North American firm to acquire the refinery, with pressure on Petroineos not to obstruct these negotiations. Labour MP Brian Leishman has advocated for the UK Government to consider nationalization as a viable option. The situation reflects broader concerns about the privatization of energy assets and the need for a new industrial strategy in Scotland.