British Billionaire Slams Europe's Energy Policy and Expands U.S. Oil Business
Ineos said the Shell deal supports energy security and includes drilling new wells and developing Fort Sumter through 2030.
- Ineos Energy acquired a 21% interest in a portfolio of assets from a Shell subsidiary to jointly drill for oil and gas in the Gulf of Mexico, which President Donald Trump has renamed the Gulf of America.
- Chairman Sir Jim Ratcliffe prioritized United States expansion over Europe, citing a more stable investment landscape; Ineos has committed over $3 billion to the region as part of this strategic shift.
- David Bucknall, the chief executive of Ineos Energy, said the deal supports "energy security," with projects including developing the Fort Sumter discovery and drilling the Sisco exploration well by 2030.
- Sir Jim, who also holds a 25 per cent share in Manchester United, has warned that chemical production is plunging across Europe and urged taxation and policy change to "save" the industry.
- The partnership with Shell targets disciplined growth by focusing on areas close to existing infrastructure, enabling rapid development and cost control through exploration and shared risk for the chemicals giant.
16 Articles
16 Articles
British Billionaire Slams Europe's Energy Policy and Expands U.S. Oil Business
Europe and the UK’s approach to energy policy is “all over the place” and eroding the region’s security and growth prospects, Jim Ratcliffe has said in an announcement confirming Ineos’s plans to expand its oil and gas operations in the Gulf of Mexico. In a statement announcing Ineos’s fresh investment in the US alongside Shell, the billionaire chemicals tycoon blasted Britain and the EU for neglecting their energy and industrial sectors, saying…
Jim Ratcliffe warns UK's energy policy is ‘all over the place’ as Ineos invests in Donald Trump’s US
Billionare businessman Sir Jim Ratcliffe has expanded his company’s stake in US oil after describing domestic energy policy as “all over the place”. Ineos Energy, which runs the energy-related operations of Ineos, the petrochemicals group founded by Sir Jim, has launched a joint venture with Shell Offshore in US waters. Ineos Energy announced last year that it would cut offshore funding in the UK in favour of the US. Company chairman Brian Gilva…
British Billionaire Calls Out Europe and Moves Investments to the US - Energy News Beat
In a sharp rebuke of European and UK energy policies, British billionaire Sir Jim Ratcliffe, founder and chairman of global chemicals giant Ineos, has publicly slammed the continent’s “all over the place” approach to energy as a threat to economic growth, industrial competitiveness, and national security. At the same time, Ineos is doubling down on America, announcing a major new investment in the Gulf of Mexico alongside Shell that pushes the c…
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