Ineos founder Jim Ratcliffe says he has lost confidence in the UK

Ineos founder Sir Jim Ratcliffe told the BBC that the United Kingdom is “on the slide” in terms of its energy outlook and urged the government to boost investment in the North Sea. Speaking in an interview broadcast on Wednesday, Ratcliffe said declining output from existing fields and a slowdown in new projects were eroding the country’s energy security and economic competitiveness. He highlighted that the North Sea still holds significant untapped oil and gas resources and that, without renewed capital and supportive policy, the sector could lose momentum at a time when reliable domestic supply is increasingly valued.

Ratcliffe’s comments come amid ongoing debate over the UK’s energy strategy, with officials balancing climate‑change commitments against the need for stable fossil‑fuel supplies. The government has recently outlined plans to extend the life of existing fields and streamline licensing, but industry leaders like Ratcliffe argue that more decisive action is required to attract private investment. Analysts note that increased North Sea activity could generate jobs and tax revenue, while also providing a bridge to a lower‑carbon future, making the founder’s call for greater investment a focal point in the broader discussion on the nation’s energy transition.