This didn't age well. LOLDonald Duck confidently stated 3 days ago Iran would attack Israel.
He heard a rumour...and stoked another fake fire
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This didn't age well. LOLDonald Duck confidently stated 3 days ago Iran would attack Israel.
He heard a rumour...and stoked another fake fire
It was in the news in March. Losing $500,000/year; not exactly viable.The UK Telegraph states that JR is threatening Scottland (or the UK) to close the site in Grangemouth completely incl. the loss of jobs.
AWo
The article says it’s $500,000 daily!It was in the news in March. Losing $500,000/year; not exactly viable.
Grangemouth closure
"When will they ever learn?" Never, I'm afraid... The Chinese will be happy!Grange mouth closing is all down to the UK governments hate for oil and gas , just becoming unviable for companies like ineos to stay here
Apparently you didn’t get the memo. When an ancient plant closes, it’s always about greedy unions and burdensome regulations, and never about owners and managers pulling huge profits and bonuses for decades without putting any money back into maintaining and updating the place.In fairness to Ineos they bought it from BP who were planning on closing it 20 years ago. It’s ancient and like most downstream facilities run on a shoestring. Just ticking along, if it’s losing money for a company like Ineos (who are very lean compared to the majors) then it’s surely not viable for anyone else.
That is a bit on the misleading side though as costs of development were still ongoing and they had not ramped up product yet.But the most consistently loss-making cog in the Ineos machine has been the auto business. In 2023, the most recent year for which figures are available and the first to include sales of the Grenadier, the company posted a €323 million loss, its biggest to date, on revenue of €501 million."
The short term spike that permits speculative investors to cash out. Long term slow growth will always be in the infrastructure. It's real estate. Real estate will always make money, the variable is who owns it when it does. SO, lets be frank, Sir jim had the choice to put money back into the place and have wealth in assets like a farmer, or go be a playboy and spend money that really wasn't meant to be spent on "marketing" like sports teams and americas cup boats. Now he want's to blame the British taxpayer for not covering his debts. Assholes like him callously ruin lives of dedicated employees, I'll take the depreciation on my car to watch him implode if his actions cost the livelihoods of working class Scot's.
I can’t speak for Ineos but all the “traditional” oil companies I’ve worked with separate their upstream and downstream business for exactly this reason. Upstream is the sexy glamorous side that makes a metric shit load of cash. Downstream is the fat ugly sister that takes loads of maintenance and contributes fkall in cashflow. It becomes easy to plead poverty when a refinery is making a loss - and it’s easy to sell the crude to somebody else and let them refine it then retail it. The profit is in the crude and trading of it.
An AI scrape spits out:-Where was this asserted, that IA is running net positive ?