US oil major, ExxonMobil, plans to close its ethylene plant located in Fife, Scotland, by 2026, impacting around 200 local jobs. The company has cited difficult market conditions and UK policy as a driving factor for its exit from the facility.
‘The UK’s current economic and policy environment combined with market conditions, high supply costs and plant efficiency do not create a competitive future for the site,’ an Exxon spokesperson stated. The company explored a potential buyer for the site but has ultimately decided to close the facility. It will later be demolished.
This marks yet another blow to the UK’s chemicals and refining industry, with several other high-profile closures earlier this year, including Prax’s Lindsey refinery and Grangemouth.
ExxonMobil said: ‘FEP has been a cornerstone of chemical production in the UK for 40 years, and its closure reflects the challenges of operating in a policy environment that is accelerating the exit of vital industries, domestic manufacturing, and the high-value jobs they provide…We understand and regret the impact this will have on our loyal and valued workforce, contractors and local communities.’
