"Ineos has acquired a 21 percent stake in a portfolio of US offshore assets owned by a Shell subsidiary, with the two companies agreeing to jointly pursue new exploration and production opportunities in the Gulf of Mexico."
"The Gulf of Mexico remains one of the most strategically important offshore energy basins for US production, and the latest investment signals continued confidence in its long-term output potential despite global energy volatility."
"Sir Jim Ratcliffe has repeatedly criticised UK and European energy policy, arguing that it has become increasingly unpredictable compared with the regulatory environment in the US, where he says investment conditions are more stable and supportive of long-term fossil fuel development."
Ineos has acquired a 21% stake in US offshore assets from a Shell subsidiary, marking a partnership to explore and produce in the Gulf of Mexico. This includes developing Shell's Fort Sumter discovery and drilling new exploration wells by 2030. The investment indicates confidence in the Gulf's long-term potential amid global energy volatility. Sir Jim Ratcliffe has criticized European energy policies, favoring the US for its stable investment conditions, which contrasts with declining North Sea production and increasing UK regulatory challenges.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]