BP is to shed up to 500 jobs at its Grangemouth site, as part of a worldwide cost-cutting drive launched at the end of last year.
Cuts will be made across a range of technical to managerial posts.
A spokesman at Grangemouth, which employs 2,500, said the review had been driven by the slump in oil prices, a downturn in its three business areas, and a flattening of the global economy.
‘BP has been looking at ways of reducing costs and adding value because of the difficulties. Oil prices are now at their lowest level since 1973 40% lower than last year.’
The cuts will not affect BP’s £300m expansion of the petrochemical plant at Grangemouth, announced last year. The expansion will create nearly 3,000 construction jobs and about 180 permanent posts.
* Kvaerner’s Govan yard in Glasgow is once more under threat following the loss of a contract to build a British Antarctic survey vessel. Two unnamed bidders are still vying for the multi-million pound deal.
Govan employs 1,200 and has work until July. A Kvaerner group spokesman said: ‘We’re still battling hard to try to secure other orders for the yard.’