Ineos suspends UK chemicals plants over high energy costs

Summarised from 5 outlets · Updated 23 Sept, 03:33 · Archive

Ineos has suspended operations at three UK chemicals plants, citing high energy prices.

Sir Jim Ratcliffe's Ineos said it would mothball three chemical plants in Hull due to gas prices it claims are 12 times higher than in the US. Thousands of jobs are at risk. Ratcliffe said UK energy policy made it impossible for the company to compete globally.

How it is being reported

• Jim Ratcliffe halts production at Hull chemical plants over ‘ridiculous’ gas pricesBillionaire owner of Ineos says company ‘cannot compete’ with global market despite efficiency of Humberside sites Billionaire industrialist Sir Jim Ratcliffe is pausing production at three chemical plants in Hull, blaming the UK’s “ridiculously high” gas prices. Ratcliffe’s chemicals conglomerate, Ineos , said on Tuesday it would “mothball” three chemical plants because the cost made it difficult to compete in the global market. Continue reading...The Guardian · 22 Sept, 17:18
• Jim Ratcliffe slams Labour's energy policy as Ineos mothballs vital chemicals plants due to 'ridiculously high' UK gas pricesJim Ratcliffe has accused Labour of 'economic vandalism on an industrial scale' after 'ridiculously high' gas prices prompted the tycoon to mothball three vital chemical plants.Daily Mail · 22 Sept, 16:39
• Sir Jim Ratcliffe mothballs three UK chemical plants over ‘ridiculously’ high energy pricesIneos said European gas prices were now 12 times higher than in the USThe Independent · 22 Sept, 14:31
• Jim Ratcliffe closes three chemical plants in Britain amid 'ridiculously high energy prices'Sir Jim Ratcliffe has blamed “ridiculously high energy prices” after his Ineos firm announced three UK chemical plants would be mothballed. Hundreds of jobs are at risk after Ineos said operations would be suspended at the sites in Hull. Sir Jim said UK energy policy had led to “economic vandalism on an industrial scale” and claimed current prices meant “we just cannot compete”. The billionaire industrialist and part-owner of Manchester United said domestic gas prices were 12 times greater than in America, while China could use coal to manufacture at an eighth of the cost. TRENDING Stories…GB News · 22 Sept, 12:44
• Thousands of jobs at risk as Ineos suspends operations at huge UK chemicals plantsThousands of jobs have been put at risk after Ineos suspended operations at three of the UK’s biggest chemicals plants, as owner Jim Ratcliffe took aim at “ridiculously high” energy prices in the UK. The three plants which are being idled produce the raw materials for pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives [...]City AM · 22 Sept, 11:02

In this story: Jim Ratcliffe · Ineos · Hull · Manchester United

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