INEOS has announced that it is to form a new INEOS Energy venture that will be chaired by former BP CFO, Brian Gilvary. This exciting new business will incorporate all of the existing INEOS Oil & Gas assets and will also enable INEOS to become a powerful force in the coming energy transition.
Brian Gilvary will be Executive Chairman of the new group bringing a wealth of experience to the role after a 34 year career in BP. He was recently awarded a lifetime achievement award by the Energy Council for his outstanding contribution to the industry.
Jim Ratcliffe, INEOS Chairman said, “We are delighted that someone of Brian’s calibre has agreed to join us to head up this exciting new venture at a time of significant transformation in the energy industry. We are determined that INEOS will be at the forefront of the industry and that Brian will provide the experience and leadership to achieve that aim”
INEOS announced today that it is forming a new group within the company to be titled INEOS Energy. This group will combine the existing INEOS Oil and Gas businesses with the extensive development activities that the company has in developing low carbon technologies for the coming energy transition.
INEOS Energy will be headed by Brian Gilvary as Executive Chairman. Brian joins INEOS after 34 years in BP where he was CFO from 2012 until his retirement in June 2020. During his time with BP, he held several senior financial and commercial roles, including member of the Board of TNK-BP , Chief Executive of BP’s commodity trading division and Commercial Director of the downstream division.
In addition to his new role in INEOS, Brian is currently a non-executive director of Barclays plc , Air Liquide S.A. and a Trustee of the Royal Navy Royal Marines Charity.
Commenting on his new role Brian said, “I am delighted to be asked to join INEOS and chair the new INEOS Energy venture at a time of tremendous change within our industry. I believe very strongly that the combination of the assets and technologies that INEOS owns, along with their drive and determination to get things done means the company can play a leading role in the coming energy transition. I look forward to working with the CEO and his team.”
by: Ineos, Press Release
Source: ineos.com
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
