Prime Minister Sir Keir Starmer has announced £200 million to help secure a new future for the Grangemouth oil refinery ahead of its closure later this year. Owner Petroineos confirmed plans to axe the refinery last year, with redundancy notices having now been sent out to hundreds of workers. But Sir Keir said there was a “huge opportunity for renewal”, saying the site, which is Scotland’s only oil refinery, could have a future in areas such as biofuels or hydrogen energy.