Joel Hills

Business Editor

Joel Hills is Business Editor for ITV News. He leads all business coverage and provides in-depth analysis of the latest business stories on the agenda, both in the UK and around the world.

  1. Joel Hills

Ineos' £640 million bet on UK shale gas success

Ineos chairman Jim Ratcliffe - a billionaire with big ambitions - is taking a £640 million bet that shale gas will be every bit as big in Britain as it has been in the US.

Jim Ratcliffe, the founder of Ineos. Credit: PA Wire

He told us Ineos were bidding for a large number of licences in Scotland and the North of England but he didn't say specifically where or how many.

It's possible that he will end up with no licences to frack - but he doesn't think that's likely.

But he is frustrated by the planning process in the UK which he thinks has been far too slow, although environmentalists argue otherwise.

Jim Radcliffe has given people this promise: "It is safe, I can prove it."

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