Beijing: PetroChina, the oil giant in China, said yesterday that it hopes consensus can be reached between management and labor unions at Grangemouth refinery in Scotland, in which it owns 50%.
Ineos Group Holdings, the partner of PetroChina on the refinery, said in a statement that it is shutting the plant and will now decide whether to restart the neighboring refinery. It took the decision after workers voted against its plan to save the business. The company said it is expected that a liquidation process will commence in a week. [24/10/13]
