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 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment