The UK and Scottish governments will hold a “critical” meeting to discuss the future of the Grangemouth oil refinery today after a Tory minister ruled out propping up the doomed facility. 

The head of Falkirk council, union representatives and owners Petroineos will also take part in the forum, which will be held online.

Last year it was announced that the refinery would close and transition to becoming an oil import terminal, sparking fears for hundreds of jobs there.

Petroineos said the refinery is “highly inefficient” and it cannot continue to run at a loss.

Read more: UK minister rules out propping up doomed Grangemouth refinery

However it will operate until at least spring 2025 and other parts of the Grangemouth complex – such as the Forties pipeline system which brings in North Sea oil and gas – will continue.

The Scottish Government’s Energy Secretary Neil Gray will chair the meeting, which will “focus on the delivery of a just transition for Grangemouth”.

Mr Gray said: “I believe we can collectively work to ensure that there is a positive future for the site, for the workforce and for Scotland’s economy.

“The Scottish Government is committed to ensuring a just transition for Grangemouth.

“The future of the refinery will play an important part in that and we recognise that we cannot do this alone.

Read more: SNP hopes to 'extend the potential life' of Grangemouth oil refinery

“That is why I am today convening this critical meeting.

“It requires each of this new forum’s membership to play a part, to engage constructively and collaborate to ensure our shared interests and ambitions are realised.”

The meeting comes after yesterday, a UK Government energy minister, who will take part in today's gathering, ruled out his administration intervening to prop up the refinery.

In November, Mr Gray told Holyrood that he remained hopeful he could “extend the potential life” of the refinery.

MSPs heard in December that the refinery will need to pay £40 million for a licence to operate beyond May 2025.

But the UK Government has now confirmed it has no intention of intervening - warning it would not give taxpayers a good deal.

Read more: SNP ministers criticised for delayed Grangemouth just transition plan

UK Energy Security Minister Graham Stuart told Holyrood’s Economy Committee that the UK Government has known that Petroineos had been struggling for some time to keep the plant profitable.

Mr Stuart insisted the UK Government was not told of the closure decision until November 23 last year, but revealed “what we were aware of is that they weren’t making money and neither were they making investments in order to change the site and make it profitable”.

Mr Stuart told the committee that “subsidising operations at the refinery is unlikely to be value for money as it has been loss-making for several years”.

He added: “We’re working with Petroineos and the Scottish Government to understand all possible options for the future of the refinery.”

The minister highlighted that “Grangemouth is one of Europe’s oldest refineries”.

He said: “Public subsidy, as well as not necessarily making economic sense, would also likely draw legal challenge from its competitors in England and Wales well as elsewhere in Europe.

“They (Petroineos) haven’t approached us with a request for financial support. It is ultimately a commercial decision for Petroineos.

"We haven’t been asked to contribute and we don’t see…at the moment that it’s an obvious thing that we should be investing in.

“If Petroineos can’t see the commercial sense in investing in a refinery that they themselves have been unable to make profitable over a substantial period and which they say is inherently inefficient, I do not think that would be a sensible use of British taxpayers’ money.”