ExxonMobil is the latest victim of Europe's failing refining capacity
Well, another one bites the dust. High supply prices, poor market conditions, and the economic and policy climate in the United Kingdom have prompted ExxonMobil to close its Fife ethylene plant (FEP) in Mossmorran, Scotland, in February 2026.
Image credit: Reuters/Dado Ruvic/Illustration
Reuters reports that Exxon made its decision after assessing multiple ways to continue production and sought a potential buyer for the ethylene plant situated near the town of Cowdenbeath in Fife.
"FEP has been a cornerstone of chemical production in the UK for 40 years, and its closure reflects the challenges of operating in a policy environment that is accelerating the exit of vital industries, domestic manufacturing, and the high-value jobs they provide," the company said in a statement.
The closure will affect 179 Exxon employees and about 250 contractors.
While 50 employees have been offered the opportunity to transfer to the Fawley Petrochemical Complex in Hampshire, England.
According to the BBC, the trade union Unite urged Exxon to weigh all of its options and reconsider its decision to cease operations.
"ExxonMobil is one of the richest companies in the world. It cannot be allowed to walk away and leave an industrial wasteland in Fife,” the union’s industrial office, Bob MacGregor, told the BBC.
Following the announcement, the UK government has said it will not provide financial support to keep the ExxonMobil plant open.
The BBC reports that Business Minister Chris McDonald said there was no realistic business plan to accompany the investment.
ExxonMobil’s decision follows the cessation of crude oil processing at Scotland's only oil refinery, Grangemouth, and the closure of Britain's insolvent Lindsey refinery after it failed to secure a buyer.