ExxonMobil to Close Fife Ethylene Plant Amid Policy Concerns

ExxonMobil announced plans to shut down its Fife Ethylene Plant in Scotland by February 2026. The company cited challenges in finding a buyer due to the UK's policy environment, high operational costs, and plant inefficiency, which have rendered the site uncompetitive.

In a significant announcement, ExxonMobil declared its intention to close the Fife Ethylene Plant situated in Scotland by February 2026. The energy giant released a statement highlighting the decision due to adverse market conditions.

The company attempted to secure a buyer but faced difficulties, pointing to the UK's policy framework as a significant barrier. Additionally, high running costs and plant inefficiencies contributed to the site being deemed uncompetitive.

This development underscores the broader challenges faced by big corporations operating in evolving regulatory and economic landscapes.

(With inputs from agencies.)