Ineos' oil refinery located at Grangemouth over 1700 acres has been closed in preparation for a two-day strike by staff over pension changes. Oil giant BP will have to close the Forties oil pipeline that links North Sea oil production with Grangemouth, delivering over 30% of the UK's daily oil output. The Forties pipeline is reliant on the Ineos refinery for steam and electricity to function. Despite repeated requests, Unite refused to maintain power and steam at the refinery when the strike begins so that the pipeline can remain operational.
This is the first time that production at the 210,000 bpd facility has been completely shut down. It will take the plant weeks to get back to 100% production capacity following the shutdown. The closure of the pipeline could cost the UK economy £50 mln/day and cause the suspension of production across 65 oil fields in the North Sea.