New UK prime minister Liz Truss has lifted a ban on fracking
UK shale drillers hope for rebirth
The new administration’s lifting of a fracking moratorium is cause for renewed optimism
UK chemicals firm Ineos has repeated its offer to drill a test shale gas well after the country’s new prime minister, Liz Truss, removed a fracking ban. Independent producer Igas also welcomed the move as the UK shale industry seeks revitalisation. Ineos chairman Jim Ratcliffe first made the test well offer in a national newspaper op-ed in April. “Shale has helped transform the energy landscape and the local communities in the US, [which] is well protected against the energy crisis as it is making the most of its natural resources. It can do the same here in the UK,” says Ineos director Tom Crotty. “We have promised to invest the first 6pc of the value of the gas back into the local communit
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
