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flag Petroineos rejects US consortium buyout, plans to transform Scotland's Grangemouth refinery into a fuel import terminal.

flag Petroineos, the owner of Scotland's Grangemouth oil refinery, has rejected a buyout offer from a US-led consortium, aiming instead to transform the site into a fuel import terminal. flag The refinery, set to close next year, could lose over 400 jobs. flag The consortium's bid was dismissed as "not credible" due to concerns about financing and expertise. flag The refinery currently faces significant annual losses.

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