The Grangemouth oil refinery is undoubtedly one of Scotland’s most famous industrial sites.

On a school trip to the site some decades ago, when it was still run by BP, the thing which was most striking was its sheer scale, which overshadowed the astonishment at the price of the fish and chips in what was in those days a heavily subsidised canteen.

To this day, the size of the refinery remains remarkable, even from a great distance, such as when walking from Falkirk town centre towards the town’s football stadium.

The refinery also has a rich history, dating back to 1924.

Sadly, neither this scale and rich history, nor the skills and labours of the site’s workers, have been enough to protect the refinery from brutal market forces.

And today we had what the Federation of Small Businesses rightly described as the “devastating” news that the refinery is to close with about 400 of the 475 jobs being lost.

READ MORE: Grangemouth refinery closure puts 'many jobs' across Scotland at risk

Petroineos, a 50-50 joint venture between PetroChina and INEOS, announced back in November last year that it was planning to close the refinery.

This news was, rightly, greeted with utter dismay. Then, there was the emergence of hope that is sometimes usual in such situations: that closure could be averted.

However, this in reality always looked like a long shot.

Falkirk East MSP Michelle Thomson’s revelation today that there was a potential international buyer which might make a “serious” offer for Grangemouth oil refinery is something which should obviously be examined and pursued to the maximum extent possible. However, history of major industrial closures would suggest that we should keep hopes on this front in check for now, with the distance between expressions of interest and a deal being vast.

It was encouraging today to see the UK and Scottish governments highlight their commitment to help those affected by the........

© Herald Scotland