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Grangemouth refinery is a mature complex oil refinery located on the Firth of Forth in Grangemouth, Scotland. It is Scotland's only oil refinery (one of nine in the UK), and is also the UK's second-oldest. Grangemouth is directly connected to the Forties oil field system in the North Sea and also imports other crudes from around the world via a deep sea terminal on the west coast of Scotland. It is owned and run by Ineos, a privately owned UK chemicals company. By revenue it is the third largest chemicals firm in the world (after BASF and Dow Chemical) and the biggest privately owned company in Britain.