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Lord Hunt of Kings Heath (Lab)

Speaking in the House of Lords on 27 March 2025

Debate

Grangemouth Oil Refinery

Contribution

My Lords, obviously we should look very carefully at any loophole that may have been identified. I should make it clear that Petroineos has said that it has invested $1.2 billion since 2011 to maintain Grangemouth’s operation, recording losses in excess of $775 million during that period. Unfortunately, that is clear evidence that Grangemouth is not a viable commercial proposition.

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