ExxonMobil chairman Paul Greenwood has previously partly blamed UK government policy for the decision and said there was no “competitive future” for the site.
Mr Greenwood told the Scottish Affairs Committee on Wednesday that the current environment was “very difficult” to operate in the UK at the moment.
Douglas McAllister MP asked Mr Greenwood if the new investment announcement on Grangemouth “flew in the face” of that view and if Jim Ratcliffe and others were experiencing the same environment he described.
Mr Greenwood agreed, but added: “If you stand back and you look at the facts, I think you turn around and you say, Prax refinery has shut. Grangemouth refinery has shut. Fife ethylene plant has shut.
“The government has now effectively had to inject some money and capital into another chemical plant in order to keep it operating.
“I think those are signs of an industry that’s struggling, not signs of an industry that’s thriving.”
