ExxonMobil, one of the world's largest oil and gas companies, has announced it has permanently ended production at its plant in Fife, Scotland.
In a blow to the UK economy, the oil giant's Fife Ethylene Plant at Mossmorran will close, with Exxon blaming the financial sustainability of the site.
In a statement earlier today, a spokesman for ExxonMobil said: “After more than 40 years of operations, Fife Ethylene Plant permanently shut down production on February 2.
"In the months ahead the plant will be fully decommissioned and made safe for dismantling. We anticipate this process to be completed by early 2028."
A major oil giant has confirmed the closure of their site in Fife, Scotland
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The US-based firm first announced its intention to close the Fife refinery back in November, in a move placing more than 400 jobs at risk.
This latest news comes after a weekend of flaring at the facility involving one of the site's operating units.
It is understood that initial redundancies will see 70 receive redundancy packages at the end of April.
Around 90 roles will be retained until the first quarter of 2028 for decommissioning and dismantling work, with 20 relocated to London or Southampton.
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| PARLIAMENTLast November, Labour Industry Minister Chris McDonald gave an emergency statement to MPs in the House of Commons, outlining the Government's reaction to the closure.
He shared: "This decision is of course, extremely worrying news for those employed by Exxon as well as contractors who work at the plant.
"This afternoon I spoke with Paul Greenwood, the chair of Exxon. He assured me that Exxon are not suggesting that this closure was due to a lack of action or will on behalf of the Government. It was a commercial decision made where the numbers simply didn’t add up."
In December, the Government confirmed that it will invest £ 120 million in Ineos’ chemical factory in Grangemouth; however, Unite the Union took aim at Labour's inaction over the Mossmorran site.
The Fife site experienced a flaring issue over the weekend
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Unite general secretary Sharon Graham said: “This is another nail in the coffin of the oil and gas industry, with jobs haemorrhaging on this Government’s watch.
"Unite has said repeatedly that the Government should not be letting go of one rope before it has hold of another.
"Importing oil and gas while we offshore our carbon responsibilities is quite frankly an abdication of responsibility which makes us more vulnerable and betrays workers.
"ExxonMobil’s decision to close Mossmorran ahead of schedule is a disgrace and a betrayal of its workers. This is an enormously profitable multi-billion pound company and this unnecessary decision will have a devastating impact on the local community in Fife."
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