Story perspectives

Ineos Shifts £3 Billion to US, Closes Grangemouth Plant

9/9/2025

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Summary

Story summary

Ineos Energy has stopped all investments in Britain, shifting £3 billion to the US due to Labour's tax policies.
Chairman Brian Gilvary criticized the UK's unstable fiscal regime, hindering future investments.
The Grangemouth oil refinery in Scotland has closed, and the Olefins and Polymers plant faces risks from high taxes and energy costs.
Sir Jim Ratcliffe linked high energy prices to environmental levies, making operations unviable.
Despite Labour's net zero strategy, calls for increased North Sea drilling persist.

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Story summary

Ineos Energy has stopped all investments in Britain, shifting £3 billion to the US due to Labour's tax policies.
Chairman Brian Gilvary criticized the UK's unstable fiscal regime, hindering future investments.
The Grangemouth oil refinery in Scotland has closed, and the Olefins and Polymers plant faces risks from high taxes and energy costs.
Sir Jim Ratcliffe linked high energy prices to environmental levies, making operations unviable.
Despite Labour's net zero strategy, calls for increased North Sea drilling persist.