North Sea Is a 'Very Good Basin with Lots of Oil and Gas' but Has Been 'Extremely Poorly Managed', Says Sir Jim Ratcliffe
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North Sea is a 'very good basin with lots of oil and gas' but has been 'extremely poorly managed', says Sir Jim Ratcliffe
There is still “lots of oil and gas” in the North Sea but poor Government management has scared off investors, industrialist Sir Jim Ratcliffe said. The billionaire boss of chemical giant INEOS and co-owner of Manchester United said the North Sea was a “very good basin” that had been “extremely poorly managed by the Government”. The energy profits levy, or windfall tax, was one stumbling block, he said. Initially introduced by the Tories and mai…
Investors Jim Ratcliffe and Guðmundur Kristjánsson, known as Brim, will become new shareholders in the company Fjallalambi in Kópasker. This is according to Gísli Ásgeirsson, managing director of the company Six Rivers, which is owned by Ratcliffe. There has been uncertainty about the future of Fjallalambi due to financial difficulties, and it was reported in July that the Icelandic Regional Development Agency had refused to write off a loan tha…
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