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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUK Grangemouth Refinery Currently Not Viable: PetroIneos
The oil refinery at Grangemouth in Scotland is losing money, operator PetroIneos said, as a change of government in the UK raises prospects of talks on the future of the site, Bloomberg said.
- “Shareholders have lost over $600 million (£468 million) since 2011 in simple cash terms and clearly this is not tenable going forward,” PetroIneos said in an email to Bloomberg.
- The Grangemouth site was first discussed at a meeting Jull 7 between UK PM Keir Starmer and Scotland’s FM John Swinney.
- Talks on the refinery are scheduled close to next year, Labour’s Deputy leader in Scotland Jackie Baillie said.
- Grangemouth is one of six oil-processing plants in the UK and is operated through a PetroIneos joint venture.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.