Ineos expands into North Sea oil and gas exploration
Chemicals giant Ineos is making a move into deep water oil and gas exploration in the North Sea.
Ineos has bought a majority stake in two exploration licenses in areas far to the north of Shetland, thought to have strong prospects for gas reserves.
It is the latest deal for the privately-owned group which recently branched out into fashion by acquiring the motorcycle wear brand Belstaff.
It also bought Swiss football club Lausanne-Sport earlier this month.
The chemicals firm, which was founded by billionaire Jim Ratcliffe, has agreed with Aberdeen-based Siccar Point Energy, to take on... read more
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