Dependence on oil and gas affects us all. Here at INEOS Oil & Gas UK, this reality fuels our commitment to responsible energy extraction.
INEOS Oil & Gas UK’s story began on February 18, 2002. It was originally incorporated as DONG (UK) Limited. Later, it became DONG E&P (UK) Limited.
Today, let’s delve into what INEOS Oil & Gas UK does and its role in the broader energy landscape. The company’s registered office is right here at Anchor House on Britten Street. This is its base as an active private limited company.
INEOS Oil & Gas UK focuses on extracting crude petroleum and natural gas. These resources are essential. They provide the energy that powers our daily lives.
Even with the rise of renewables like hydrogen, oil and gas remain critical. They offer a reliable source of heat, light, and fuel. This is especially true for transportation.
Consider how many British households rely on gas for heating. The number is around 84%. Natural gas isn’t just for heating. It is also a vital raw material. It is used to produce plastics and other chemical products.
INEOS Energy UK underscores the importance of natural gas. They highlight its role in the evolving energy mix. Natural gas can significantly reduce CO2 emissions. It does this when it replaces coal in electricity generation.
INEOS Energy UK holds a strong production focus in the UK. Its purpose is the responsible and reliable extraction of natural gas for the long term.
INEOS is a multi-national chemical company. While headquartered in London, it is registered in Luxembourg. James Ratcliffe founded the company. He remains the Chairman and holds a 60% share.
INEOS has a broad portfolio. It manufactures raw materials for various products. These range from bottle caps to car components. Plastics are a significant part of its output.
Interestingly, INEOS uses fracked gas. It imports it from the USA to produce plastics. The plan extends to using fracked gas from the UK as well.
Over time, INEOS has expanded its operations through acquisitions. In 2017, INEOS Upstream Ltd acquired natural gas assets in the North Sea. It purchased them from DONG Energy A/S.
INEOS Shale focuses on onshore gas development. It holds access to over 1.3 million acres for shale exploration in England and Scotland.
INEOS also has joint ventures. Petroineos is one example. It is a collaboration with PetroChina International. Together, they are a leading European crude oil refiner.
The Grangemouth refinery is a key site. It has direct access to North Sea oil and gas. It supplies fuel to Scotland, Northern England, and Northern Ireland.
From its start as DONG (UK) Limited to its current status as INEOS Oil & Gas UK, the company has evolved. It continues to play a vital role in the energy sector. It provides essential resources while adapting to a changing energy landscape. INEOS Oil & Gas UK remains a key player in ensuring a reliable energy supply.