INEOS to mothball three major chemical sites in Hull

newsSep 22, 202624444

Ineos will pause production at its three chemical plants in Hull, citing surging UK natural gas prices that it says are 12 times higher than in the US and eight times higher than coal-based Chinese competitors. Two plants are already shut and a third will stop in the coming days, a move that Ineos says could affect up to 1,000 staff, of whom 245 work directly at the site. The facilities make acetic acid, acetic anhydride and ethyl acetate, feedstock for pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives, and Ineos says gas is a key ingredient in their production. Ineos told the BBC it will try to buy liquefied natural gas directly from the US to cut costs, a process that could take up to a year, and it is asking the UK and EU to introduce tariff protections against Chinese imports. Sir Jim Ratcliffe called the government’s energy policy "economic vandalism on an industrial scale" and said the Humberside plants are among the most efficient in the world with substantially lower carbon footprints than US and Chinese rivals. The BBC reported wholesale gas prices in the UK and Europe have almost doubled since July, with supply disruption through the Strait of Hormuz after the US-Israel war in Iran contributing to global price rises. The Department for Business, Innovation, Science and Trade said the situation is "concerning for workers in Saltend and their families" and pointed to existing government measures including a £350 million co-investment fund for strategically important chemicals producers.

Richard Corbett CBE

@richardcorbett.bsky.social

Nonsense! Gas prices have risen across Europe, Africa & the Middle East. It’s not peculiar to Britain. What Monaco-based tax avoider Ratcliffe is trying to do is blackmail the UK govt to bung him some taxpayers’ money by threatening to close some his Hull plants www.bbc.co.uk/news/article...

37217d ago

Malcolm Mair28

If you're not paying tax in this country, you should be ineligible for any government bailout.

Get Me Zarniwoop24

Fossil gas ("natural gas") prices in the UK nearly doubled just after the start of Trump's illegal attack on Iran, and they have hardly come down since. So, Jim Ratcliffe should know exactly who to blame for his increased costs, and it ain't the EU or Labour. tradingeconomics.com/commodity/uk...

Mike D London16

It's 'odd' that this time last year he was whining at the Labour Govt over allowances due to the fact Ineos had converted Hull to run on hydrogen, not natural gas - yet now it's the price of natural gas ('Labour to blame') that means he's 'forced' to shut the plant...🤔

Nigel 🇬🇧🇪🇺14

Another billionaire on the scrounge

Roger9

Nonsense is right. This uber cash-rich, insensitive, ignorant sheister has been subject to plenty of debate this week:-

Mike Boyle9

How much money does one billionaire need?

Quoting this

cheryl1878.bsky.social21

He’s a rat faced weasel

Andy Martell 🇯🇪14

A tax evader and scrounger.

Paul Le Comte 🇳🇿🇨🇦📷10

Nationalise his billions & his business, that’ll give him something to really moan about.

DJ Markymarc3

The same dickhead who wants people to lose their benefits is hanging around for his company Ineos to get government handouts before starting up again. Quelle fecking suprise!

Martin Greenaway3

There's none so mad about the welfare bill as those whose companies demand welfare for themselves.

Alex Gray3

Sooner this cunt is put down the better. An insidious leech that offers nothing.

Ruth2

Exactly this ! Well said Richard !

Philip

@blumphy.bsky.social

Jim bloody Ratcliffe has just announced mothballing Ineos plants in Hull! Cunt is playing politics with people’s lives! What an absolute arsehole of a human being

1718d ago

Gerry4

Wanting state aid again whilst using his workers as hostage So far he has had Public support / state aid: approximately £134m identifiable Government-backed guarantees: £305m Combined support + government exposure: approximately £439m

Matt David1

Methinks you overstate his qualities.

Steve Duffy1

Said he lost 'confidence in the UK'. Well, we've lost confidence and patience with billionaires. Dickhead.

Roger1

My views on Jim bloody Ratcliffe mate

Mike D London

@mikedlondon.bsky.social

Odd... Ratcliffe - whose Ineos when it comes to taxpayer handouts but Outeos when it comes to paying a fair share of taxes - was last year moaning at Labour after converting his Hull plant to run on hydrogen. This year he's whining about the price of gas 'forcing' him to shut Hull... 🤔

1217d ago

Den of Scholes

@denofscholes.bsky.social

BBC News - Sir Jim Ratcliffe's Ineos to mothball three major chemical sites in Hull www.bbc.co.uk/news/article... Here's a tip, Jim. Get into the renewables game rather than oil and chemicals. Retrain your staff in processing onshore electricity into renewable batteries.

1118d ago

Joe Scaramanga

@joescaramanga.co.uk

www.theguardian.com/business/202... The headline needs a rewrite: Billionaire tax dodger uses 4000 low paid jobs as blackmail to force the government to give him cheap energy.

1317d ago

wysiwyg94.bsky.social

@wysiwyg94.bsky.social

In which case I hope the Government demands he repays all the £millions in tax payer funded subsidies he's received. Vile money grubbing turd of a man. BBC News - Sir Jim Ratcliffe suspends production at key UK plants blaming high gas prices www.bbc.co.uk/news/article...

318d ago

Jester mouse

@jestermouse.bsky.social

The real reason Jim Radcliffe is scaling back Ineos operations in Hull:

617d ago

ScottCulkin 🇺🇸/🏴󠁧󠁢󠁳󠁣󠁴󠁿/🚒🚑(ret.)/🚴/🥁/⚽1

Oof. Missed that result. 😬

kindness not weakness1

I wouldn’t actually be surprised. He’s a mini Trump and just as petty

ECIU

@eciu.net

BBC reports that Ineos is pausing production at its three plants in Hull, blaming high UK gas prices

318d ago

ECIU2

"If the goal is greater energy security and more stable bills, then the obvious solution is reducing our exposure to gas altogether where we can through renewables and electrification...

BlueTongueFella 🇬🇧🇺🇦

@bluetonguefella.bsky.social

Uh Oh! "The facilities produce raw materials used to make pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives in the UK and Europe. Gas is a key ingredient in production....the move will affect up to 1,000 of its staff..." www.bbc.co.uk/news/article...

118d ago

Mark Hale just wrote a fucking novel!

@ver-bat-man.eurosky.social

British redundancies for British workers. How very Jim Ratcliffe. Just pay your company's fucking gas bill out of the interest you make on your obscene personal fortune, you tight cunt! www.theguardian.com/business/202...

217d ago

Ken Spearpoint

@kenspearpoint.bsky.social

This man and his companies have no boundaries to their global greed. Parasites. www.bbc.co.uk/news/article...

218d ago

Sally Taylor

@salskibe.bsky.social

Devastating for many Hull families in an area where there is not much alternative employment www.theguardian.com/business/202...

117d ago

Neil Charles

@neilcharles.bsky.social

Also suspends points production at Man U blaming high player prices. www.bbc.co.uk/news/article...

118d ago

🌍Global News📝

@global-news-2024.bsky.social

📰 Sir Jim Ratcliffe suspends production at key UK plants blaming high gas prices Ineos said natural gas in the UK is twelve times more expensive than in the US. Source: BBC News | Read story 💬 Will this accelerate industry adoption? #TechBluesky #Gas #Jim

18d ago

Irish News 🇮🇪

@news-flows-ir.bsky.social

Sir Jim Ratcliffe's Ineos to mothball three major chemical sites in Hull The wholesale price of natural gas has almost doubled in the UK and Europe since July.

18d ago

1 source

bbc.co.ukSir Jim Ratcliffe's Ineos to mothball three major chemical sites in Hull

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INEOS to mothball three major chemical sites in Hull

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