Formed in 2011, Petroineos is a joint venture between INEOS, the privately held UK chemicals company, and Petrochina, Asia’s largest oil and gas producer. It owns Scotland’s Grangemouth refinery, which is adjacent to INEOS’s petrochemicals complex and the Kinneil oil stabilisation plant.
The refinery is a member of NECCUS, an alliance of industry, government and scientists supporting carbon emission reductions from industrial sources in Scotland and beyond. This includes the Acorn project, which is set to deliver a CCS programme for Scotland by 2024. As part of NECCUS, Petroineos has been involved in helping develop the Scotland Net Zero Roadmap. It is considering creating a CCUS demonstrator hub at Grangemouth and is also looking at hydrogen options for the complex.