The UK’s largest producing onshore oil producer lost more than £100m last year, according to company accounts.
Ineos’s shale gas business has cut the value of its exploration assets to zero following the government moratorium on fracking in England.
Losses in IGas more than doubled in 2019 to more than £50m as the company turned its back on shale exploration in north west England, annual accounts have revealed.
The moratorium on fracking, along with planning delays and weak commodity prices are a challenge for the future, Egdon Resources has concluded
The onshore oil and gas company, Union Jack Oil has announced a loss of £1.1m in its accounts for 2018, published today. This compares with a deficit of £0.75m in 2017.