Grangemouth: on the brink…

The BBC report wednesday evening that talks have broken down between Ineos, the operators of the Grangemouth oil refinery in Scotland and Unite, the trade union representing workers at the refinery who are threatening to strike Sunday and Monday over a dispute about adjustments to their pension scheme.



Grangemouth lies at the end of the Forties oil pipeline system that gathers oil (and liquids) from oil and gas fields throughout a large area of the Central North Sea. Whilst Grangemouth processes around 200,000 bpd the pipeline system handles around 700,000 bpd and according to this CNN report, a BP spokesman has said they may have to shut down the whole pipeline system. With the global oil market and European gas market already stretched, the impact of this dispute may reverberate around the world.

The Oil Drum: Europe