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BP to Upgrade Grangemouth RefineryBP Grangemouth has won approval to replace its catalytic cracking unit for the refining of motor gasolines following its destruction in a fire in June 2000. The upgrde is expected to cost aound £26 million, and be complete by March 2004. The decision to go ahead with the upgrade has eased some of the concerns about the plant's long term future. However, BP has warned that the mix of crude oils used at the plant is expected to lead to lower margins. The crude received is from the Forties pipeline, fed by the Forties field. BP recently announced their intention to sell their interests in the Forties field to Apache. It seems that the future for Grangemouth is still uncertain. |