Ineos takes its first step into UK shale exploration

Anthony Clark
PRW

Published: August 18, 2014 1:15 pm ET
Updated: August 18, 2014 1:18 pm ET

Image By: Ineos Ineos Chairman Jim Ratcliffe

Related to this story

Topics Materials, Materials Suppliers

Ineos Group AG has moved into United Kingdom shale exploration with the purchase of BG Group’s 51 percent share of the shale section of a joint Petroleum Exploration and Development License (PEDL). The remaining 49 percent is owned by exploration company Dart Energy. No figures were disclosed.

The PEDL 133 license covers 329 square kilometres of the Midland Valley of Scotland, which includes Ineos’ Grangemouth, Scotland, refining and petrochemical complex and the area around it.

Gary Haywood, chief executive of Ineos Upstream, said: “We are very pleased to have agreed the purchase of 51 percent of the shale section of the PEDL 133 license. Over the last year Ineos Upstream has been drawing together a team of experts in the sector, including a number of leading shale exploration and development specialists from the U.S. This expertise gives us the perfect platform to move into onshore exploration.

“This is a logical next step for Ineos and we are very excited about it. We are one of very few businesses that can use shale gas as both a fuel and a petrochemical feedstock,” he added.

“With our large UK asset base, our existing capabilities in operating oil and gas facilities and our exemplary safety and environmental record, Ineos is well placed to become a major player in the UK onshore gas production sector.”

Ineos is based in Rolle, Switzerland.


Comments

Ineos takes its first step into UK shale exploration

Anthony Clark
PRW

Published: August 18, 2014 1:15 pm ET
Updated: August 18, 2014 1:18 pm ET

Post Your Comments


Back to story


More stories

Image

EPA sets new rule for phthalate DnPP

December 24, 2014 11:25 am ET

A federal agency has issued new regulations for a phthalate used in PVC production.    More

Image

European polymer firms may face more pressure from US shale

December 24, 2014 9:57 am ET

InterBulk Group plc, the publicly-traded logistics group, has warned that European polymer markets would continue to come under pressure from new...    More

Image

Patents the springboard for Aussie company to play on global stage

December 22, 2014 4:19 pm ET

Obtaining patents on its technology is helping an Australian manufacturer of compostable and biodegradable plastic resins becoming a leading player...    More

Image

Swedish compounder makes first North American plastics acquisition

December 22, 2014 10:19 am ET

Swedish rubber compounder Hexpol AB has made its first North American plastics acquisition, buying the plastics compounding business of RheTech Inc....    More

China's Jinming honored as global partner by ExxonMobil

December 22, 2014 12:08 pm ET

Guangdong Jinming Machinery Co. Ltd. has been recognized as a global strategic development partner by ExxonMobil Chemical Co.    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events