- Chemicals giant Ineos Energy is expanding its US operations by partnering with Shell for new oil and gas exploration and production in the Gulf of Mexico.
- Ineos has acquired a 21 per cent interest in a Shell asset portfolio, with both companies jointly investing in developing the Fort Sumter oil and gas discovery and drilling new exploration wells.
- Ineos chairman Sir Jim Ratcliffe is prioritising investment in the US, having committed over $3 billion (£2.2 billion) there, due to his perception of a more stable energy landscape compared to Europe.
- Ratcliffe criticised Europe's "inconsistent" energy policy, stating he has more confidence in US energy sector investments than in Europe.
- Ineos Energy CEO David Bucknall highlighted that the deal with Shell strengthens their portfolio and supports long-term "energy security" through disciplined growth and shared risk.
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