The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 869 contributions
Economy and Fair Work Committee
Meeting date: 10 January 2024
Gordon MacDonald
My final point is about the barriers to the just transition that we are trying to achieve. Aberdeen and Grampian Chamber of Commerce, the Scottish National Investment Bank, Scottish Renewables and the SSE Group all highlighted grid connection issues as a barrier to developing offshore wind. What needs to change in that respect?
Economy and Fair Work Committee
Meeting date: 10 January 2024
Gordon MacDonald
Thanks very much.
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
If it is a no-loss company, how did you make substantial losses? I picked the losses up from the manufacturing company.
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
What were the group profits?
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
Right.
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
You talked about the substantial losses that were made in 2020 and 2021 due to the lockdowns. However, Rystad Energy highlighted that Russia’s invasion of Ukraine
“catapulted refining from famine to feast in term of margins.”
Was it a mistake for Petroineos to cut the site’s refining capacity by 30 per cent?
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
You mentioned that current demand is for 150,000 barrels per day. When you close the refinery in five years’ time or whenever it happens to be, what will happen to that demand?
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
Good morning. I want to continue the discussion on the background to the decision to move towards closure, whether it be in May 2025 or later. You talked about macroeconomic challenges. Are there economic challenges that are impacting only the Grangemouth refinery, or are the same issues impacting the other five refineries in the UK and, indeed, those across Europe?
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
When you cut from 210,000 barrels to 150,000, you must have thought that that 150,000 barrel demand was sustainable, at least in the short term.
You operate another plant at Lavera in France. You have talked about the demand in Europe, and you have said that you are exporting at a loss. Will those European customers now be served from the French refinery that you own, which is another old BP refinery?
Economy and Fair Work Committee
Meeting date: 13 December 2023
Gordon MacDonald
My final question is in two parts. First, I was not able to find your financial accounts for the year to December 2022. They are not available from Companies House. What was your financial position at the end of December 2022?
Secondly, has a final decision been taken to close the refinery? What would it take to keep it open for a longer period of time? You talked earlier about the capex of £40 million. Are there any other factors that we need to take into account to keep it open?