The chief executive of Ineos Energy has said the business will prioritise expansion in the US and Denmark over Britain, arguing that the country’s politicians have put “pain” on the oil and gas sector. David Bucknall told The Times that the US and Denmark, the other two regions the company operates in, were “much easier to invest in at the moment”.
Ineos Energy, created in 2020, manages the energy-related operations of petrochemicals group Ineos, which was founded by billionaire Sir Jim Ratcliffe. It entered the US market last year by acquiring part of of Chesapeake Energy’s oil and gas assets in south Texas for $1.4bn. Bucknall’s comments come ahead of the UK general election on Thursday, which has seen energy policy become a key focus.
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