Petroineos

Petroineos is a joint venture between INEOS and PetroChina, established in 2011, focusing on refining and energy trading. The company operates two major refineries: Lavéra in France and Grangemouth in Scotland. At its peak, Petroineos processed over 420,000 barrels of crude oil per day. However, in April 2025, Grangemouth ceased crude oil processing and began transitioning into a fuels import terminal, resulting in significant job reductions. This decision was driven by financial losses and increasing competition from larger, more modern refineries. Petroineos continues to trade a comprehensive range of energy products globally, supported by its shareholders' network of industry experts.