Wednesday, 20 July 2016

30 FRACKING APPLICATIONS TO BE LODGED BY INEOS IN THE UK

Peggy Hollinger, Financial Times

    

Ineos, the $50bn petrochemicals giant controlled by British billionaire Jim Ratcliffe, aims to accelerate shale gas development in the UK by lodging as many as 30 planning applications to drill test wells in the next six months.

Tom Crotty, a director at Ineos, said the company hoped to start drilling in the north of England early next year and could begin extracting gas in about 18 months through the controversial technique known as fracking.
The move comes as the group this year ends a six-year tax exile with the opening of a new headquarters in London for its mainly UK-based upstream oil and gas businesses. [...]
The group, which owns the Grangemouth refinery in Scotland, has ambitions to become a substantial oil and gas producer, particularly in shale gas. Ineos has backed a highly public campaign to convince the Scottish government to lift its moratorium on fracking over the past year.
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