Overview

• Sir Jim Ratcliffe urged leaders to remove green levies from industrial energy, scrap or ease carbon charges, restore free allocations and speed up tariff responses.
• Ineos announced 60 job losses at its Hull acetyls plant and closed two sites in Rheinberg, with the company blaming high energy costs and low‑priced imports from China.
• An Oxford Economics report commissioned by Ineos found chemical output has fallen since 2019 by 30% in the UK, 18% in Germany, 12% in France and 7% in Belgium.
• Ratcliffe said European producers pay roughly four times US prices for gas and electricity, arguing the cost gap and carbon bills are choking investment.
• Ineos has halted its 2024 dividend and imposed a hiring freeze, while Ratcliffe warns of about 1 million direct jobs at risk, rising to 5 million including supporting industries.