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The Guardian - UK
The Guardian - UK
Business
Rupert Neate Wealth correspondent

Billionaire Brexiter’s energy giant Ineos nets £474m profit thanks to soaring prices

Ineos Jim Ratcliffe Oil
Jim Ratcliffe at Grangemouth gas terminal
Ineos founder and CEO Jim Ratcliffe (centre) on a visit to the Grangemouth gas terminal in Scotland. Photograph: Russell Cheyne/Reuters

Billionaire Brexiter Sir Jim Ratcliffe’s petrochemicals company Ineos has made an almost £500m profit thanks to soaring energy prices that are hammering struggling households.

Ineos UK E&P Holdings, the oil and gas division of Ratcliffe’s empire, reported a profit of £474m in 2021 compared with a loss of £226m in 2020, according to new filings at Companies House.

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