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Petroineos has announced the closure of Scotland's only oil refinery at Grangemouth, risking 400 jobs and impacting nearly 3,000 more. The decision has drawn criticism from Scottish ministers, who argue it undermines the just transition to cleaner energy. The closure is set for summer 2025, amid ongoing discussions about future energy strategies in Scotland.
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The UK government has withdrawn support for the Rosebank and Jackdaw oil fields, following a Supreme Court ruling that mandates consideration of emissions from burning fossil fuels in environmental assessments. This decision has been welcomed by climate action groups, although drilling licenses remain intact. The Labour government aims to transition to greener energy sources.
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Labour's proposed increase in windfall taxes on oil and gas companies has sparked criticism from industry leaders and political opponents. The Offshore Energies UK warns that the changes could lead to a £13 billion loss to the economy and jeopardize 35,000 jobs over the next five years. The party's stance is seen as detrimental to investment in the sector.