Is an HOA a profitable business?

INEOS Technologies is acting quickly to establish business relationships in Vietnam

2
min2014

A company in Vietnam has licensed INEOS 'technology to manufacture polypropylene. This plastic polymer is used in a wide variety of products from refrigerators to carpets and automotive parts.

Vung Ro Petroleum Limited stated that INEOS 'Innovene PP process will give them an edge over the competition and enable them to meet the growing demand in the Asian market.

"The economy in Asia is growing and with that growth comes the demand for plastic products used in infrastructure, packaging, household products, appliances and consumer products."says Randy Wu, Vice-President, PE / PP Marketing and Sales at INEOS Technologies. "In the past, most of these products were intended for the export market."

Vung Ro Petroleum Limited first approached INEOS Technologies in mid-2012. Within a year, the company signed the contract with INEOS.

"This is relatively quick for a polyolefin licensing project, sometimes the implementation time is several years"says Randy. "But it also shows that we've done a good job building relationships with our customers, consultants, and contractors, and our reputation as the leading technology provider in the industry is widespread."

The refinery is to be located in the Dong Hoa district in Phu Yen Province.

"INEOS 'Innovene PP process will become an important part of our refinery project and will enable us to have an advanced polypropylene process with economic benefits and a broad product presence", explains Kirill Korolev, CEO of Vung Ro Petroleum Limited.

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Thanks to entrepreneurial thinking, INEOS managed to save an additional 30 million euros in annual interest payments when the company refinanced part of its loans in February 2014. Video This latest decision to capitalize on the favorable situation in the financial markets came after INEOS was able to significantly reduce its interest payments last year. This resulted in savings of $ 140 million per year. "These haircuts, plus those of the past 18 months, have allowed us to reduce our total exposure from € 550 million to € 385 million," said Graeme Leask, Chief Financial Officer of INEOS Group Holdings. INEOS was able to lower the interest rates on its loans as there was a great appetite for investors to share in INEOS 'success. “In February, investors reacted very positively,” Graeme continued. “The demand for the new bond was seven times oversubscribed.” INEOS had to pay a little less than 8 percent for its bonds. The new bond was expected to yield interest rates of just over 6 percent. In fact, it was less than 6 percent. It was also possible to reduce the interest burden from bank loans. “These savings were used to pay off debts, but our investors know that we have many good opportunities in all of our businesses to make money from this investment. So it is better for INEOS and its investors to put that money back into the company than it is to reduce borrowing, ”said Peter Clarkson, director of investor relations at INEOS. Financial advisors described the latest deal as "eruptive," Graeme commented. INEOS attributed its success to the good rapport it has with investors and the company's continued strong performance. "We are very open to our investors, and this transparency is well received," says Peter. “Every week we prepare a report for all investors and analysts. Otherwise that practically does not happen. It gives you a summary of what is going on in our major markets. ”This culture of openness and honesty has also enabled INEOS to save the time it would otherwise take to renegotiate and secure better interest rates. Refinancing through an issuing business used to take three weeks. It is now a matter of days since investors know us so well. INEOS should not have refinanced these high-yield paper until 2016, but they seized the opportunity, took advantage of the favorable financial market situation and reacted quickly. “Usually we don't wait until the end with these things so that we have a lot of leeway,” said Peters. The latest deal brought an improved credit rating from Moodys, which is now the same rating as Standard & amp; Poor’s was: B1 / B +. “Credit rating agencies are actually very conservative in terms of value and their standard scenario is that tomorrow the world will end, or convince us that it will not; a better rating is good news at this point, ”explains Peter. There are other benefits to this: you can negotiate better balances with suppliers, which in turn improves the flow of cash. Douglas Crawford, analyst at Moody’s, said the improved rating also partially reflects INEOS '"robust" performance for 2013 and that the company has high hopes for this year. INEOS AG Finance Director John Reece said overall 2013 results were good and 2014 had started on a positive note. Much of INEOS 'profits were made in America, however, with an increase from 60 percent in 2012 to nearly 70 percent in 2013. "Shale gas is not the only reason we're doing so well in the US, but it is driving the change." he said. INEOS plans to make significant investments in the US in the coming year. “This facility is our top priority,” continued John. The plans include: a polyethylene plant, an oligomer plant and possibly a new ethylene oxide plant. John comments: "Europe, especially southern Europe and Great Britain, gives us headaches, but our decision to import cheap ethane gas made from shale gas from America to Europe will help to save operating costs in our European gas crackers and thus ensure our competitiveness." Going forward, this journey will continue, which began in April 2012 when INEOS secured the highest unconditional loan for a European company, the highest in the world since the credit crunch. “It's part of our strategy,” explains Graeme. “We are opportunists. So if there is an opportunity on the market to reduce our interest burden and expand our financing options, we are ready to do so. "

Science has been asking this question for years. So far it has not been possible to agree on a definitive answer. It is important to find an answer, however, because, according to The Economist, entrepreneurs are people who find value in the worthless and opportunity in the impossible. INEOS is a company that prides itself on breathing that entrepreneurial spirit. But what exactly is meant by that? Entrepreneurship is an integral part of INEOS. This goes hand in hand with passion, goal orientation, innovation, a vision and the desire to act quickly. In today's world, companies have to be agile in order to be the first to seize opportunities. These qualities are more important today than ever. "Entrepreneurship, at least for INEOS, can be summed up in four words: speed, risk, motivation and fun," said Bill Reid, Business Director of INEOS O&P Europe (North). "Speed ​​in responding to opportunities that arise, a willingness to take risks, a strong motivation to constantly push the company, but also to have fun in an environment in which INEOS Capital places great trust in us at a very early stage." Hans Casier, CEO of INEOS Oxide, says INEOS CEO Jim Ratcliffe pioneered entrepreneurship by founding Inspec, a high-margin specialty chemicals company that owned a former BP petrochemical facility in Antwerp. Jim bought this system in Belgium and renamed it INEOS in 1998. “On the very first day at Inspec, we were asked whether we could produce more glycol,” recalls Hans. “We had an idea that had been around for years, but BP never implemented it and was also not interested in the location. Jim said we should do it, but make sure it was quick. It was a completely new approach to corporate management. He had a vision and ideas. He didn't want to stand still. He wanted to do better and was ready to take risks and move the business forward. That is exactly the spirit that came into the company from day one. Building on our ideas, we very quickly produced an additional 22,000 tons of glycol. That was just the beginning. The Antwerp site, which was threatened with closure under BP, is three times bigger than it was then and continues to do well. ”Calum MacLean, CEO of INEOS O&P Europe (UK), explains that entrepreneurship has always been a part of INEOS was. He believes that when it comes to harnessing talent, how it is developed is more important than what it brings with it. “I think true entrepreneurs are born and not made,” he adds. “But you can still develop an entrepreneurial spirit by motivating the people around you to approach business activities differently, to think in terms of solutions and not problems, to move outside the box and to be role models with their behavior.” He is convinced that there are entrepreneurs in every company, but that regulations and bureaucracy often stifle their potential in the bud. You won't find anything like that at INEOS. “We don't have a large corporate headquarters with people who manage remotely,” says Calum. “The crowds or committees that are common in other major headquarters just don't exist at INEOS.” Jim Ratcliffe, who last year was the first Briton to receive the Petrochemical Heritage Award for his visionary approach to the global petrochemical industry , believes that bureaucracy is the greatest enemy of passion. “It's stifling companies,” he says. Jim's own entrepreneurial approach to running a company has fostered a culture of seeking innovative solutions every day.

INEOS is different. You see it in the faces of the people who work for the company and you can feel it in the air. Everything radiates great energy. INEOS may have grown to become the world's third largest chemical company over the years, but it hasn't lost its spirit. & nbsp; Independent thinking is encouraged when working for INEOS. It's good to know that there is always a team behind you when you need them. For me, entrepreneurship means taking the initiative, inspiring others and getting results.Stijn DekeukeleireRTD EngineerINEOS Oxide, Belgium Having worked in a more traditional blue chip chemical company where my job has been safe and enjoyable is the INEOS environment significantly more challenging and demanding. This is exactly why I feel more involved, can make a difference and so enjoy my work much more. INEOS is constantly striving to maximize business opportunities through innovative solutions, whether technical, business or financial. Dave HartINEOS Nitriles, Seal Sands, UK INEOS does not accept doing things in a certain way just because it has always been done that way . The company likes to challenge convention and constantly strives to achieve the same results at a lower cost. I like working for a company that challenges me to find my own solutions. This can be challenging, at times frustrating and at times inconvenient. Paul McNultyINEOS Nitriles, Seal Sands, UK motivating workers to find solutions to their own problems means that we feel we are in control of our own destiny. Such a spirit creates an environment in which solid networks can easily be forged between people within INEOS and outside the company.Johan LootsSenior Production Engineer Utilities + Energy & amp; CarbonINEOS Oxide, Belgium INEOS offers an inspiring environment in which you can go as far as your imagination allows. Many people believe that long hours are the only way to achieve something, but working on the right goals is probably more important than spending countless hours at a desk. The secret is to focus, stay focused, and trust your instincts. As our business is constantly changing, we need to adapt to new circumstances, set new goals, and implement smarter solutions. Believing in yourself makes it so much easier to convince others to accomplish the same goals. You can sit around doing endless analysis, but during that time the competition will overtake you.Peggy GeritsPlanning & amp; Logistics ManagerINEOS Oxide, Belgium INEOS is definitely an entrepreneurial organization. This can be seen in how it develops its businesses, products and people. It is both stimulating and rewarding to have the freedom to think differently and see new opportunities that open up. This is evident in the way we work, both in the safe way we operate the company and in our constant efforts to reduce our impact on our environment.Kjell AnderssonDesignerINEOS ChlorVinyls, Stenungsund, Sweden At INEOS we are encouraged to To think “outside the box” in order to find solutions to problems and to develop the company further. Every day there are new opportunities to do this at work. We are all different, have different characteristics and traits, but innovation is important to us all. Carita Johansson HR Manager and Communications OfficerINEOS ChlorVinyls, Stenungsund, Sweden INEOS feels like a start-up, full of spirit and drive, with clear responsibilities . It has a no nonsense philosophy and challenges people to find solutions to problems and get the job done. I've worked in other companies where the bureaucracy stifled me and I ran into walls so often that I didn't feel like working for them anymore. Not so at INEOS. Debbie Clark Personal Assistant / Office ManagerINEOS Group, Hampshire UK INEOS operates very differently from other companies, especially in the chemical industry. People who like hierarchies are lost here. INEOS enables you to think differently, to be flexible and straightforward, and to work beyond convention. If you are someone who can get used to it, who likes a high degree of freedom and really wants to make a difference, then this is your company. It's great to have no limits other than what you set yourself. Here we are encouraged to break new ground, try fresh ideas and see the bigger picture. INEOS is about the passion - and the will - to move things forward. Dr. Anne-Gret Iturriaga Abarzua Head of Corporate CommunicationsINEOS Olefins & amp; Polymers Europe North I clearly see INEOS as an entrepreneurial chemical company because it is willing to challenge existing ways of working and societal attitudes. Working for this company is incredibly rewarding because it constantly challenges me to seek, find and implement solutions to my own problems. David SopherINEOS Nitriles, Seal Sands, UK INEOS management is very committed and successful. My job is so fulfilling that it doesn't feel like work. For me, entrepreneurship means taking personal responsibility for the business. INEOS proved this particularly during the 2008/2009 crisis and recently during the Grangemouth strike.Manfred HartungAsset Manager Energy DepartmentINEOS Olefins & amp; Polymers Europe North As a recent graduate, INEOS makes me a “You Can Do It” engineer. I am taught to go outside to find out things for myself, while I always have the backing and support of well-trained and very experienced colleagues who help me when it is necessary. At INEOS you get real skills and real responsibility and you will be confronted with the real business world. With the right attitude and attitude, you can go very far because the opportunity is there. Every day we deal with real tasks and real problems and work together to ensure that most problems are resolved by the end of the day.Amadou TounkaraI&E Reliability EngineerINEOS O&P USA At INEOS we get the freedom to use our knowledge and resources, to develop innovative and valuable ideas proactively and without fear.This approach means that we are not "fighting fires" or following traditional, prescribed or long-established paths in our work.Mark GessnerEngineering AdvisorINEOS O&P USA It is interesting and exciting to work for a company that challenges you to find solutions to your own problems to find. At INEOS you are encouraged to be resourceful, to find new ways of working and to develop your own role.Annika PetrussonAssistant to Managing Director INEOS ChlorVinylsStenungsund, Sweden At INEOS you are not given anything, which is why you develop much faster and learn more than anywhere else. The lack of an obsessive hierarchy allows people to flourish and this is a real benefit to the company as each organization member is personally committed to success. I see indications of entrepreneurship every day at work because I am surrounded by people who are limitless to their job description and are constantly looking for opportunities for business development, improvement and efficiency. This happens completely voluntarily, without any pressure from anyone. Strong self-discipline combined with great motivation and goal orientation pervades the entire organization.Gabriella IsidroPolymer Product OfficerINEOS Olefins & amp; Polymers Europe North

When great minds think alike, incredible things can happen. This is what INCH found out when looking for traces of entrepreneurship at INEOS. Eleanor Roosevelt once said that the future belongs to those who believe in the beauty of their dreams. It also belongs to those who are ready to challenge the present. At INEOS, this approach is actively supported, celebrated and rewarded. The company supports its employees in recognizing opportunities, leading the company better and - wherever they are - having the drive to get things done. In 2009, INEOS did just that during the worst global recession in decades. It saw an opportunity, responded quickly with a clear, strategic vision and wrote a whole new chapter in the history of European petrochemicals. "It was a paradigm shift," said Bill Reid, business director at Olefins & amp; Polymers Europe (North). Demand in Europe plummeted, profits plummeted, Europe's crackers shut down and INEOS 'main competitor went bankrupt. To make matters worse, the price gap between energy and raw materials in Europe and America widened after the US found a way to get hold of huge reserves of previously untapped shale gas. "These were undoubtedly the most difficult times for our company and the industry in general," said Bill. Hopeless times require radical thinking. INEOS decided that if it could not reduce stifling energy prices in Europe, it would bring the cheap, shale-derived ethane gas from the US to Europe to lower operating costs and remain competitive in the global olefin and polymer business. The plan worked. In 2012, INEOS entered into a seemingly impossible series of 15-year contracts with three companies responsible for the extraction, distribution, liquefaction and logistics for the delivery of hundreds of thousands of tons of ethane annually from America to Norway and Scotland. At the same time, construction of a gas tank and terminal at Olefins & amp; Polymers Rafnes site started. When the first shipments land in Rafnes early next year, INEOS will be the first petrochemical company in Europe to import cheap gas from the US and take advantage of the competitive advantage of shale gas. "Nobody has come up with this idea so far," explains Dr. Gerd Franken, CEO of Olefins & amp; Polymers Europe (North). INEOS 'Grangemouth site in Scotland will see the benefits of this entrepreneurial spirit as soon as the first shipments of shale gas from the USA arrive in the UK in 2016, replacing the declining raw material stocks from the North Sea. The £ 300 million investment in a new import terminal with a 40 meter high ethane tank that can hold up to 33,000 tons of ethane will help transform a lossy site into a profitable one. This entrepreneurial mindset is anchored in the INEOS culture. Employees don't just want to make money - they want to make a difference. More importantly, they firmly believe they can. Overcoming hurdles, discovering new ways of working, lateral thinking and regularly challenging the status quo are typical of everyday work at INEOS. The entrepreneurial spirit can also be seen in the way other companies are acquired, in the strategic vision and the ability to make critical decisions quickly. INCH found that INEOS encourages everyone at all levels not only to see problems, solutions and opportunities, but also to develop ideas for their implementation.

New Approaches: A new approach from INEOS Oxide resulted in the division not only turning waste into cash, but also creating promising business opportunities for two other companies, taking the equivalent of 60,000 vehicles off the road. The ball got rolling when INEOS went looking for companies interested in CO2 produced by its own ethylene oxide plant in Belgium. “We make a lot of CO2 and knew there had to be a good use for it somewhere - but unfortunately it wasn't our market,” explains Hans Casier, CEO of INEOS Oxide, which operates the most energy-efficient ethylene oxide plant in Europe. Instead of releasing the CO2 into the atmosphere, INEOS Oxide set out to fi nd two companies that could do a successful business together with the use of CO2; z. For example, CO2 could be used to make fizzy drinks and dry ice, which keeps food and beverages cool during transport between warehouse and retail. INEOS then presented the Messer company to Strombeek IJsfabriek, who together founded a joint venture and now operate their new company BECO2 at INEOS Zwijndrecht in Antwerp. "We convinced them to set up their own company instead of buying CO2 from third parties," said Hans. “You are currently removing around 150,000 tons of CO2. We share costs and infrastructure. ”At the press presentation of the CO2 liquefaction plant, CO2 was discharged directly from the ethylene oxide plant and converted into sparkling water. “All of the plant's employees who were on site took a glass,” says Hans. “We offered it to the press and they backed away. A typical example of the fact that the public has no idea what chemicals are all about. ”Concentration on niche markets: If you are planning to develop a new and high-performance insulation material, you will not immediately come across the Turkish construction industry as an attractive market. But not at INEOS Styrenics. “The Turkish economy has grown strongly in recent years. Government building regulations have been tightened following the major earthquakes in 1999 and 2011, when many buildings collapsed, ”said Rob Ingram, INEOS Styrenics Chief Operating Officer. "There was a lot of construction going on, and building insulation gained importance when the standards were raised." Expanded polystyrene (EPS) in the form of white foam blocks is mainly used for building insulation in Europe and has also been used in Turkey. The gray version of this material with improved thermal insulation properties by 20 percent, on the other hand, was new for the Turkish market. INEOS had three options: to fight for a larger share of the developing gray EPS market in Germany, where the benefits were already known but also had a strong local manufacturer; wait until the rest of Europe develops further and follows the German example; or to look for alternative markets and take advantage of being the first provider. INEOS Styrenics chose the third option. It worked with one of its key customers in Turkey and sold him the benefits of the EPS Silver product. Together they recognized the opportunity to be the first to introduce this new material in Turkey. They presented the product together at a large national construction fair, spoke to architects and construction companies about the benefits of the product, held industry seminars and wrote a series of articles for the national business press. "Success didn't come overnight, but within five years we built sales from scratch to become the market leader," said Rob. "We achieved this because we recognized the opportunity and quickly established our product as the standard for high quality on the market." Live what you believe in. Believing in your plan is just as important as the plan itself. At INEOS Europe AG, this belief saved the PP plant in Sarralbe, a small production site for polypropylene in France that lost around four million euros a year. Xavier Cros, Polymers Business Manager at INEOS O&P South, took over the site in 2012 and implemented a detailed plan that had failed miserably in the past. “None of the measures were really new or groundbreaking,” he explains. “The only difference was that this time everyone on site believed that the changes would work.” He addressed the entire workforce and gave everyone a specific goal. “All employees on site became part of this plan, so it was up to everyone whether it would be successful or fail,” says Xavier. The plan worked. Within a year, the location was back in the profit zone. “This success breathed new life into the site,” adds Xavier. “Everyone now believes we can do even better this year.” Product Information: Methoxy polyethylene glycol (MPEG) has been in use for over 50 years when INEOS was founded in 1998. It was a tried and tested molecule, but there were only a few areas of application for it. Shortly after INEOS took over BP's former petrochemicals site in Antwerp, they began looking for ways to change the makeup of many chemicals to make them more usable for the business, add more value and provide customers with better products. MPEG was one of them. Before INEOS made the changes, however, a team researched the market to see what construction companies need and demand. “By changing the specification and working with the most important companies, we introduced a completely new technology for this sector,” explains Hans Casier, CEO of INEOS Oxide. “A good example is the fast-setting cement. We developed the solution by changing the way we produce the molecule to meet the needs of the application. We achieved a significant increase in sales and market share. ”Courageous decisions: Leadership requires courage. Two years ago INEOS bought catalytic converters and resold them to customers. Today we manufacture them ourselves and sell around 500 tons per year - thanks to our courageous decision to set up a plant to manufacture catalysts in India. "If we had built the facility in Europe or America, the cost would have been four times as much," said Peter Williams, CEO of INEOS Technologies. Today INEOS works with a local company to manufacture catalysts in its own facility and deliver them to customers around the world. “We took a calculated risk, but it is a very competitive and important business for us. We could not have paid for such a facility to be built at one of INEOS 'existing sites, ”he adds. The catalyst plant is so successful that a second is currently being built. Willingness to take risks: The willingness to take calculated risks is also an example of true entrepreneurship in practice. According to CEO Peter Williams, his team at INEOS Technologies showed that they were about to acquire a new customer in Mexico. INEOS was on the verge of licensing its technology for a polymer plant to a company in Mexico. However, the customer is concerned that INEOS should manufacture the product on a commercial basis for the first time. “Based on the work in our laboratory, we knew that this was possible, and we also had great confidence in our capabilities,” says Peter. To convince the customer, INEOS used a pilot line to manufacture the product and sent it to Japan, where it was converted into what the customer expected - packaging. INEOS then sent a team to Mexico to test the packaging on the market. “We only made two batches of the product and hit the bull's eye,” says Peter. “We won the order, and the relationship with the customer is getting stronger all the time.” Thinking “outside the box”: Unconventional thinking can save millions. INEOS Phenol realized this when the use of fallow land and its own jetty was offered to a neighboring company in Antwerp, Belgium. This agreement is a great example of a win-win situation where both parties benefit from the overall project. ADPO will be able to use the INEOS jetty (a critical facility for a chemical logistics and storage company located in a large port) and INEOS will benefit from the new rail lines, pipelines and loading facilities ADPO plans to build adjacent to INEOS. “The main track runs right past our location. Furthermore, a new rail line is being built that will run directly towards it. In future, our phenol and acetone can be loaded directly onto trains and do not have to be transported by road, ”says Nick Williamson, Business Development Manager at INEOS Phenol. “Laying a one-kilometer-long track alone costs several million euros. We could never have justified this investment. However, by planning together with ADPO, we both have an advantage. By looking at things differently, we were able to generate value for the company. ”ADPO is also planning a significant expansion of the jetty, which means that INEOS will be able to deliver larger quantities of raw materials and export more in the future. “An important investment for our company that opens up more opportunities for us,” added Nick.

If asked to name the stories greatest entrepreneurs, who would you choose? The man who created the iPhone, the “difficult” student who invented the electric light bulb or the lady who was convinced that every woman can be beautiful? INCH found that while the question is easy to ask, it is difficult to answer. & nbsp; APPLE Steve Jobs (1955-2011) co-founded Apple. He and his school friend Steve Wozniak sold the first Apple computer in 1976. Jobs left Apple in 1985 but returned in 1996 and became chairman of the board in 1997. He tackled Apple's poor economics and oversaw the development of the iPod, iPhone, and iPad. Many say that Job's greatest talent was questioning the market and creating innovative products that everyone would want. & Nbsp; AMAZON Jeff Bezos (1964 -) left his well-paying job with a hedge fund in New York City in 1994 and started the e-commerce website Amazon in his garage. Initially only books were sold through it, but Bezos was not satisfied with being a bookseller. He wanted more for Amazon. So he made online shopping so easy that customers can now find and buy almost anything with a click of the mouse. Today Amazon is the largest retailer on the Internet. & Nbsp; FACEBOOK Mark Zuckerberg (1984 -) wrote computer programs during his school days. Several companies - including AOL and Microsoft - wanted to hire him before he even graduated from Harvard University. He refused and started Facebook. Its social network, with a market value of more than $ 150 billion, is used by more than a billion people today. STEEL INDUSTRY Andrew Carnegie (1835-1919) is known for his gifts in the form of public library buildings. But he was also an industrialist who led the major expansion of the American steel industry towards the end of the 19th century. When he sold his company to JP Morgan in 1901, it was valued at more than $ 400 million. His actions were determined by the desire to help others. By the time he died in 1919, he had already given away $ 350 million of his property. He once wrote: “The rich man who dies dies in disgrace.” AIRPLANE INDUSTRY The first airplane was invented by Wilbur Wright (1867-1912) and his brother Orville (1871-1948). After watching birds in flight for a long time, they finally proved on 17.December 1903 with their airplane the world that humans could fly: 37 meters in 12 seconds. IKEA The Swede Ingvar Kamprad (1926 -) started selling matches to neighbors at the age of 14, which he bought in large quantities in Stockholm. Being amazed at being able to buy a product and resell it at a profit fueled his ambition. He then sold fish, Christmas decorations, pens, pencils and seeds. At 17 he named his company IKEA and expanded the range of goods. At 21 he started selling furniture and at the age of 27 - 1953 - he opened his first IKEA store. Today IKEA has branches in 25 countries and an annual turnover of more than 21 billion euros. THE CAR Henry Ford (1863-1947) made cars for everyone. His Model T had everything he believed a car should offer - not too expensive and reliable. However, at that time only a few cars could be produced per day; not enough to meet demand. So he opened a large plant with a production line, becoming the largest automaker in the world with a car that was easy to use and cheap to repair. & Nbsp; KOSMETIKA Estée Lauder (1906 - 2004) was the daughter of a Hungarian immigrant. She founded her cosmetics company in 1946 with just four products and the unwavering belief that every woman can be beautiful. Initially, she sold her care products to beauty salons and hotels and was convinced that you have to reach out to customers in order to generate sales. “I did not achieve what I am with wishes and dreams, but with hard work,” she often reminded her follow-up team. Today their cosmetics are among the world's leading brands. JEANS Levi Strauss (1829-1902) was born in Germany and emigrated to America in 1847 to work for his brothers. Six years later he started his own company. He imported clothing, underwear, umbrellas, and fabrics that he sold to small shops along the west coast of the United States. One of his customers, a tailor, gave him the idea of ​​making robust “waist overalls” that we know today as jeans. It is believed that the jeans were initially made individually by seamstresses. When jeans became increasingly popular in the 1880s, Strauss opened his own factory. The rest is history. THE COMPASS The first compass was invented in China during the Han Dynasty. It was made of magnetic iron stone, a naturally magnetized iron ore. Thanks to the compass, seafarers were able to move safely on the seas far from the mainland. This led to an increase in maritime trade, which in turn made a major contribution to the Age of Discovery. DISCOVERERS The Portuguese Ferdinand Magellan (1480 - 1521) organized the expedition that led to the first circumnavigation of the world. He put together a fleet of five ships and, despite difficult setbacks (the captain of one of his ships sailed back home and Magellan himself died in the Battle of Mactan), he proved that the earth is round. THE PRINTING PRESS Johannes Gutenberg (1395 - 1468), a German goldsmith and merchant, invented the printing press with exchangeable and movable wooden and metal type in 1436. His invention, for which he had to borrow money, revolutionized the production of books. & Nbsp; THE LIGHT BULB Thomas Edison (1847-1931) was the youngest of seven children. His mother decided to teach him at home after his teacher called him difficult. It wasn't until he was four years old that he learned to speak, but then didn't stop asking “Why?”. He started selling newspapers at 12 and later published his own little newspaper. During his life he applied for more than a thousand patents, including the electric light bulb, the first suitable dictaphone, the phonograph and batteries. He received his last patent at the age of 83. GOOGLE Larry Page (1973 -) and Sergey Brin (1973 -) met at Stanford University in 1995. Larry wanted to tour the university and Sergey should show him around. Two years later, the two students jointly founded Google, which became one of the fastest growing companies of all time. Google is the most popular search engine today. Their philosophy is simple: great is just not good enough. & Nbsp; TATA GROUP J R D Tata (1904 - 1993) was the first pilot in India to be certified in 1929 and founded Tata Airlines, India's first commercial airline, later Air India, in 1932. In 1925 he joined Tata & amp; Sons joins his uncle's company. In 1938, at the age of 34, he was elected chairman. Under his leadership, the group's net worth grew from $ 100 million to $ 5 billion. He started 14 companies, and when he retired there were 95 companies in the Tata Group. TRICK FILMS Walt Disney, creator of such magical characters as Mickey Mouse and Snow White, was considered to be the pioneer of animated films. During his 43 year career in Hollywood, he was known for making America's dreams a reality. His pursuit of perfecting the art of animation was endless. When Technicolor entered the animation world, it held the patent for two years, making Disney the only one to do color cartoons in color. THE INTERNET Computer scientist Sir Timothy Berners-Lee (1955 -) invented the World Wide Web in 1989 while working for CERN, the European laboratory for nuclear research, as an Internet-based hypermedia initiative for the exchange of information around the world. The idea was for a more effective CERN communications system, but he realized that it was a concept that could be rolled out around the world. The first website was made at CERN and went online on August 6, 1991. & nbsp; COCA COLA The Atlanta pharmacist John Pemberton (1831-1888) invented a fragrant, caramel-colored liquid in 1886. He was curious about what would happen if you mixed this liquid with sparkling water, so he took it to Jacobs ’Pharmacy. Because customers liked the drink, Jacobs ’Pharmacy began selling the drink for 5 cents (less than 0.02 euros) a glass. Pemberton's accountant Frank Robinson called the mixture Coca Cola. In the first year, Pemberton sold nine glasses a day. Shortly after the drink hit the market, he fell seriously ill. Asa Candler, a gifted salesman, secured the rights to Coca Cola and turned it from an invention into a business. Today the Coca Cola group has sales of more than $ 35 billion. CHINA YOUTHOLOGY Zafka Zhang co-founded the market research company China Youthology in 2008. He believes today's generation has the power to change Chinese society. Companies such as Audi, Nokia, L’Oreal and Daimler have already used its online services to gain access to China's youth culture and to understand how their own brands can be better marketed. MICROSOFT Bill Gates (1955 -) programmed computers when he was 13. He dropped out of Harvard to focus his energies on Microsoft, driven by the belief that computers would be a valuable tool in every office and household. He developed software for home computers and thus pioneered its revolution. Bill Gates has already committed $ 28 billion to his foundation and is now looking to eradicate polio with the same enthusiasm as Microsoft. & Nbsp; FEDEX Fred Smith (1944 -) took the money inherited from his father and founded Federal Express, a global overnight delivery company. A professor had warned him that this would not work. His company, now known as FedEx, is now the world's largest transport service. It handles more than eight billion packages a day and operates in more than 220 countries. MOBILE TELEPHONE Martin Cooper (1928 -) developed the concept of the portable cell phone while working at Motorola. It is believed that the two kilo Motorola prototype cost approximately $ 1 million at today's prices. The battery only lasted 20 minutes, but that wasn't the point because you couldn't carry the phone that long. THE TELEPHONE Alexander Graham Bell (1847-1922) was the first to receive a patent for the electric telephone in 1876. He improved the design, and by 1886 more than 150,000 households in the United States had telephones. He later said, “One day you'll be able to see who you're talking to.” PAPAYAMOBILE Si Shen was so inspired by Microsoft founder Bill Gates' book The Way Forward and his idea of ​​changing the world that she wanted that too. After several years at Google, she returned to Beijing, where she and a friend founded Papaya in 2008. Today she is turning cell phones into social networks. This software allows you to exchange photos, send messages, play online games with others and is now said to have more than 35 million users. & Nbsp; VIRGIN GROUP Sir Richard Branson (1950 -) dropped out of school at the age of 16 and began selling records to friends at the lowest possible price. He later opened a record store on London's Oxford Street and built a recording studio for which he signed artists like the Rolling Stones. Today the Virgin Group he founded comprises more than 400 companies. STARBUCKS It all started with a cup of coffee. Howard Schultz (1953 -) was so inspired in 1981 after speaking to employees at Starbucks in Seattle that he was hired as director of marketing the following year. At the time, Starbucks had four branches. During a trip through Italy in 1983, he had the vision of bringing Italian café culture to America. He left Starbucks for a short time, hoping to do something himself, but returned in 1987 and bought the company. Today Starbucks operates more than 17,000 stores in 60 countries.

It's not your typical dream vacation spot, but some people like Doug Stoup are magically drawn to places that no one would normally go to. Nobody has ever been to the top of the East Arctic Plateau. According to scientists, the almost 1,000-kilometer-long frozen mountain ridge, on which temperatures drop to below -92 ° C, is such an inhospitable place that nothing can thrive or survive there. It is so bitterly cold that human eyes, noses and lungs freeze to death within minutes. "It's alien up there, and it's probably like another planet," said Ted Scambos, senior scientist at the US National Snow and Ice Data Center in Boulder, Colorado. “It's incredibly difficult to breathe, and it really hurts. It stings your nose, inhaling too quickly causes stinging of the throat and lungs. ”The polar explorer Doug Stoup is very familiar with such hostile places, as he has explored Antarctica more often than anyone else. “The Antarctic is my office,” he jokes in an interview with INCH while skiing in the upstate of Lake Tahoe, California. “It's an inhospitable place, but I'm not tired of life and I always want to return home safely.” At 49 years old, he is known as a veteran who has traveled, climbed and explored some of the most remote areas of our planet, and explored by ski or snowboard. So would it be tempting for him to climb this remote ice plateau, which scientists say is the coldest place on earth in December? “Sure!” He says. “I've been to so many places that no one has gone before me. So my answer is: yes, of course! I love to explore my limits and still have so many goals and dreams. ”At a paralyzing -93.2 ° C, it is almost twice as cold there as the coldest place Doug has been to. He knows what to expect. “You can't stop,” he says. “It's so bitterly cold, you always have to keep moving. When you stand still, you burn calories just to keep you warm and stay alive. If your skin isn't covered, you'll get chilblains immediately. ”Scientists discovered the coldest place in the world while analyzing data from satellites that have orbited our planet for 32 years. The last satellite, Landsat 8, was launched in February 2013 and sends 550 images of the earth per day from an altitude of 705 km. “At the moment the earth is orbited by a very precise and uniform sensor that can tell us a lot about how the earth's surface changes, what effects the climate has on the earth, the oceans and polar regions,” explains Ted. "Finding the coldest place on earth is just the beginning." Doug would surely agree. "If you are mentally and physically prepared and have the right equipment, anything is possible," he says. Doug has been leading teams across the frozen Arctic Ocean to the North Pole and the South Pole in Antarctica for more than ten years. “The trip to the North Pole is the toughest in the world,” he explains. “If the ice moves, it tears open. When you sleep in your tent, you feel and hear how it groans, breaks up and moves under you. Sometimes it sounds like a whisper, then like a train. And of course there is always the risk of meeting polar bears. ”Mental and physical preparation for what lies ahead is absolutely necessary, but not enough. Without the right clothing, many expeditions would fail. “The chemical industry plays a huge role in creating things that keep people like me alive,” he says. “It enables functional clothing that helps me stay warm and dry in inhospitable environments while I'm inactive, and at the same time controls my skin breathing when I move.” Doug has been involved in the development of high-performance clothing for polar explorers now bring his experiences shortly to NASA in their project to bring humans to Mars. He will soon be traveling to Devon Island in Canada, the largest uninhabited desert-like island in the world, cold, arid and desolate with an impact crater about 23 million years old and 15 miles wide. A great environment for scientists who want to find out what it takes to carry out a manned mission to Mars. Experts predict that NASA will be able to send a team of astronauts to Mars in the 2030s. Like Earth, Mars has polar ice caps, seasons, volcanoes, canyons and deserts. However, since the temperatures drop to -128 ° C at night, it is much colder there. "Mars is not a place for the weak," says a spokesman for the space agency. This is how nobody would call Doug, who paid almost with his life to cross a crevice field during a 47-day tour to the South Pole in 2008. On this almost 1,190-kilometer tour, he followed a route that polar explorer Ernest Shackleton had chosen for the first time. Did he ever worry? “No,” he says. And was he already scared? “Yes,” he says. “I once took a taxi from Heathrow to central London. That was crazy. "

This question is ancient. Do entrepreneurs think differently from others? Can we all learn to think differently? In other words, is entrepreneurship contagious? The question of whether entrepreneurs are born or made is the subject of heated debate. Entrepreneurship is definitely a hot topic. A lot of people want to be entrepreneurs, get involved in entrepreneurial initiatives or enter into a partnership with entrepreneurs. This word has never been so well received. Whether it's nature or upbringing - and a large part of entrepreneurship comes from a natural urge that is not easy to teach - once you've tasted blood and achieved even a small success, there's no going back. I have certainly been infected by the “entrepreneur virus”. These creative start-ups that want to change the world and solve problems are great for society and the economy. Michelle Wright, Chief Executive of Cause 4 The human urge to imitate has been widely recognized and researched: from child development to language learning, the Buying goods and services to deciding to check email on your phone in the middle of a crowd. In all of these cases, people can be very strongly influenced by what they observe in others (real or virtual). We recently conducted a survey to determine if entrepreneurship was contagious and found that someone who surrounds themselves with entrepreneurs, especially growing entrepreneurs, is more likely to become one themselves. What do we conclude from this? Entrepreneurship can be contagious, but you have to be exposed to it early and often, especially in an environment in which it is otherwise almost invisible.In particular, growing entrepreneurship is a very fine line that requires significantly more effort if it is to be introduced into receptive communities and to fuel overall economic growth. Paul Kedrosky, Ewing Marion Kauffman Foundation, a Kansas City, Missouri-based not-for-profit foundation, entrepreneurship is absolute contagious. Once you are surrounded by motivating and innovative entrepreneurs and have a taste for life outside of jobs in large US companies, where you can directly influence the company's success and experience the fruits of your work in real time, there is no turning back. This is why many universities are trying to set up Masters programs for entrepreneurs as the attraction of MBAs is slowly waning among the next generation of workers. George Deeb, Managing Partner of Chicago-based Red Rocket Ventures Is Entrepreneurship Contagious? Remember: obesity is contagious, so is quitting smoking and divorce anyway. So why not entrepreneurship? Think how people (at least it seems) infect one another with ideas, fashion, food preferences, and habits. Doing something, even if it is difficult, is easier when many people do it. And isn't entrepreneurship a combination of ideas, fashion, habits and the like? So if I start a business and thrive, won't my friends do the same to me? You have a changed risk assessment. Tim Berry, American Founder and Chairman of Palo Alto Software, Eugene, Oregon Entrepreneurship has nothing to do with genes. It depends on the political, economic, educational and social environment in which you find yourself. And that's exactly why it is contagious. Everything we know about business today points to a simple truth: Entrepreneurship is the best tool ever developed for creating growth and prosperity for individuals, companies and entire nations. Companies that spawned the "businessman" in the pinstripe suit are now promoting a culture of "corporate entrepreneurship" as the best way to survive in the global economy. Heads of government from all walks of life have also found that developing an economy that relies on entrepreneurship is the best way to create jobs and achieve sustainable economic development. Entrepreneurship has become a global phenomenon because it works better than any other known business model for more people, more companies, and more countries. However, none of this could be implemented if the age-old myth “Entrepreneurs are born, not made” were actually true. In fact, this has never been the case. The truth is that millions of new businesses are currently being started each year by a wide variety of people from all walks of life. Certain circumstances lead to business start-ups: a favorable circumstance, for example when one invents a great product / an idea for a service or out of sheer need, out of poverty, great dissatisfaction or resignation. Ninety-nine percent of 3,000 entrepreneurs I've met and interviewed are ordinary people who just found themselves in extraordinary situations. Larry C. Farrell, Founder and Chairman of The Farrell Company, a global research and education organization of entrepreneurship for students, businesses and governments. www.TheSpiritOfEnterprise.com When entrepreneurship pervades every corner of an organization, the entrepreneur that resides in each of us comes to life. Remember what marks successful entrepreneurs. They believe very strongly in their skills and in their vision for their company. Now imagine that everyone in an organization shares this view. What power would that have? Anyone who has worked in a company that encourages entrepreneurship knows how motivating that is. This energy can actually be felt. The activities in the sales rooms and in the corridors are so intense that when you leave your office you have the feeling of being in the middle of rush hour traffic. Decisions are made on the fly, with no formal meetings or approvals. The sense of community is palpable. & Nbsp; The entire team is committed and does everything to be successful.Martin O'Neill, author of The Power of an Internal Franchise: How Your Business Will Prosper When Your Employees Act Like Owners

This bold new initiative that INEOS launched last year to get kids off the couch in the UK has become an ongoing success. So many kids - who don't want to run away - are lining up to attend INEOS 'GO Run For Fun events across the UK. The calendar for 2014/2015 is already full and more than 30,000 children are taking part this year. “These events were extremely successful in the UK,” says Leen Heemskerk, who is responsible for the GO Run For Fun initiative. “Many communities, sports clubs and schools have approached us and want us to organize events. That's wonderful. However, if we want to expand the program, we need more funds. We have exhausted all possibilities and want to let even more children benefit from the offer. However, this requires the support of third parties from commercial organizations and the government. ”Video Since August last year, more than 15,000 children have taken part in the INEOS 1-mile runs. Melton Primary School in Suffolk hosted one of these events. “This run was not only well organized, well conducted and very inclusive, it also had an extremely positive impact on our students. It showed them that running and being active can be both fun and exciting, ”said Andrew Northcote, the school's physical education teacher. Jim Ratcliffe, a passionate runner himself, is enthusiastic about this initiative. "The idea for GO Run For Fun arose from the passion to get as many children as possible to run as early as possible," he explains. “This initiative is real teamwork, without the hard work and commitment of everyone involved, we would not have been able to implement it. To have reached this milestone of 15,000 participants so quickly is thanks to everyone. ”By the end of the year INEOS hopes to have held 100 events in the UK. Some of these will be held alongside major sports competitions such as the Sheffield Half Marathon and the Bristol 10K, others with schools and athletics clubs. Colin Jackson, Olympic silver medalist, is an ambassador for GO Run For Fun. “It's a wonderful opportunity for children to get a taste of running,” he says. "You've probably never tried running, but maybe that's the foundation of a career as an athlete since running is the foundation of all other sports." To ensure the long-term future of GO Run For Fun, INEOS is working with Nova International, which organizes the most famous major running events across the UK. The ultimate goal of GO Run For Fun is to become the world's largest running initiative for children. “Our goal is to inspire 100,000 children by 2016, and we are on the right track. If we get further support for this already very successful initiative, there is no reason not to multiply that number, ”said Leen. Brendan Foster, former long-distance runner for Great Britain at the Olympics who started the BUPA Great North Run, has no doubt INEOS can achieve this goal. In June, the first GO Run For Fun events will take place across the English Channel near INEOS locations in Belgium, Germany and Switzerland. "The circus is coming to town," said leen, Chief Financial Officer of Olefins & amp; Polymers Europe (North). INEOS invites all other locations worldwide (including Norway, France, Italy and America) to contact the project manager for GO Run For Fun Ursula Heath at [email protected] For the latest information on GO Run For Fun, visit www.gorunforfun.com

Last year INEOS began to point out that the petrochemical industry in Europe was facing major challenges, both internally and externally. Not much has been done since then to improve Europe's competitiveness with America, the Middle East and China. Europe is currently one of the most expensive locations in the world for the production of petrochemicals. That has to change and politicians in Europe need to recognize this threat to competitiveness before it's too late, said INEOS CEO Jim Ratcliffe. & Nbsp; Europe hesitates. But it can't afford that if it wants to keep a competitive chemical industry, says INEOS CEO Jim Ratcliffe. “It doesn't look good for Europe, but Europe doesn't seem to be aware of the fate of its chemical industry,” he adds. “I see green taxes, but not shale gas, I see the closure of nuclear power plants and industrial plants. I fear that the competition authorities in Brussels are not aware of the tsunamis of imported products that are coming to Europe. And I see how these authorities turn a blind eye to the necessary restructuring. ”In an open letter to José Manuel Barroso, President of the EU Commission, Jim calls on him to take urgent measures to protect the chemical industry in Europe. “Strategically and economically, no large economy should abandon its chemical industry,” he notes. INEOS 'results have halved in Europe in the past three years, while in the US they have tripled. BASF, the world's largest chemical company, has announced a strategic cutback in investments in Europe for the first time, citing stagnating markets, expensive energy and high labor costs as the reasons. “Energy in the form of gas costs three times as much in Europe today as in the US, while electricity is almost 50 percent more expensive,” explains Jim. "Europe has no cheap raw materials, the US and Middle East raw material costs are in a completely different league." According to him, shale gas has transformed US competitiveness and increased self-confidence. "Shale gas-based investments in the US petrochemical industry are planned for $ 71 billion," he added. “These investments could grow to more than $ 100 billion. In contrast, Europe reports one plant closure after the other. ”In Great Britain alone, 22 chemical plants have been closed since 2009. Chemistry depends on competitive energy and raw material costs. Although the chemical industry is very technical - and this has historically been one of the reasons for Europe's success to date - technology alone cannot save industry. He warns that the entire industry could be wiped out within ten years. "The European textile industry was wiped out because it couldn't keep up with Asian wages," he notes. “The chemical industry could experience the same decline, it could soon become another European dinosaur.” The chemical industry in Europe currently offers one million direct and five million indirect jobs. "In Europe, the chemical and automotive industries share first place with $ 1 trillion each," adds Jim. “From an economic point of view, the chemical industry is a key sector in Europe.” In his letter, Jim also pointed out the serious threat posed by China, which by 2020 could become the world's largest economic power. “There is constant building in China,” he continues. “While they have imported the entire world surplus of chemical production in recent years, they will soon be covering their needs with local production. In addition, they could soon start exporting on a large scale. "

INEOS ’radical approach to 2009 will pay off next year when the first shipments of low-cost ethane arrive from the US in Rafnes, Norway, to help drive down INEOS gas crackers' operating costs in Europe. But why should you leave it at that? INEOS is now asking itself that question. INEOS hates waste. This also includes wasting opportunities to run business areas more efficiently. After signing groundbreaking 15-year contracts with two US companies to import inexpensive, shale-derived ethane gas from the US to Europe to reduce the operating costs of European plants, INEOS is now looking to the UK. A new team, led by Gary Haywood, is weighing the pros and cons of shale gas extraction and production in the UK, as this country is one of the few countries in the EU that has recognized the importance of hydraulic fracturing (aka 'fracking') recognized. Gas and liquids can be extracted from shale formations. According to Gary, the UK government's support for the shale gas exploration was a key factor in INEOS 'decision to invest in its own project team, which was formed in February. "Without government support, the development of shale gas production would be virtually impossible," he explains. The UK government has now set up an Office of Unconventional Gas and Oil to promote the safe, responsible and environmentally sound extraction of shale gas and oil resources in the UK. Furthermore, tax breaks were announced to make investments easier. "The government has recognized that shale gas has the potential to provide the UK with greater energy security, growth and jobs, as well as keeping the UK's chemical and energy-intensive manufacturing industries on the path to success," said Gary. To date, 176 Petroleum Exploration and Development Licenses (PEDL) have been issued for oil and gas deposits on mainland Britain. Further licenses are to be added in the course of the year. The US shale gas revolution has transformed the American petrochemical industry. US gas prices are now a third and half the prices in Europe (and a quarter of the prices in Asia), respectively. This has also had a positive effect on the raw materials for crackers. Dennis Seith, CEO of Olefins & amp; Polymers, USA, explains that the impact of reduced energy costs on American industry has been phenomenal. It is estimated that US chemical companies will invest more than $ 70 billion in new manufacturing facilities by 2020. The cost advantages have accelerated this development. The factors influencing gas prices in the UK are complex and very different from those in the US. It is unlikely that the impact of high shale gas production on gas price developments will exactly match the US situation. However, there is no doubt that the development of this national resource will boost the competitiveness of the UK gas market and improve energy security, balance of payments and employment. In January, British Prime Minister David Cameron, confirmed by developments in the USA, called on the European Union not to burden shale gas exploration with hasty regulatory burdens, as investors would otherwise look elsewhere. "There will still be extensive oil and gas production, but Europe will be dry," he warned the World Economic Forum. He called on the EU to take the opportunity instead. “I understand the concerns of many citizens,” he added. “We need the right regulations. Governments must reassure people that development will only move forward when environmental hazards can be eliminated. If the production is done properly, shale gas will produce fewer emissions than imported natural gas. ”Gary's team has already started work. It is believed that there are huge and untapped deposits of shale gas in the UK. The only question is whether this gas can also be extracted economically. Part of the INEOS team's job is to research the UK's geology and identify the most promising areas for economic extraction.Economic production of shale gas also requires the right surface conditions, the availability of the area and the necessary infrastructure. The team also worked with other chemical companies, energy-intensive customers and manufacturing companies involved in shale gas extraction to find out how best to convey to the skeptical public that shale gas can be extracted in a safe and environmentally sound manner. “The environment is difficult at the moment,” says Gary. “People worry. We have to educate them and take away their fear. It is sometimes argued very emotionally and not with solid scientific evidence or knowledge-based facts. ”INEOS has already developed a strategy for convincing the public of the real need for shale gas extraction. It should come into play in debates in parliament, in the media and via INCH. We also want to convey the benefits to our own employees in the hope that they will also help spread the facts. "It is imperative that we make it clear that the chemical and energy-intensive industries in the UK must remain competitive or else they have a rather bleak future," warns Gary. “Europe is currently facing increasing competition from the US and the Middle East, where energy and raw material prices are very low. We need to explain that developing our shale gas resources is a way of counteracting this development. ”INEOS can use shale gas as a raw material or energy source for its own ethylene crackers, but it also has land, pipelines and storage facilities in some key areas to be explored in the UK. "All of this, combined with INEOS 'great manufacturing expertise, rigorous safety standards and good relationships with the communities in which we operate, means INEOS can bring something unique to this new industry," said Gary. “INEOS may ultimately choose to drill for shale gas itself.” INEOS has brought extensive external experience to this team to help evaluate this exciting opportunity. Tom Pickering has more than a decade of experience in shale gas exploration and production in Europe. Of all applicants, he has also sought and received the most British mainland licenses. Gareth Beamish has 30 years of experience as a geoscientist with large companies such as Exxon Mobil and the BG Group. Over five years he was able to gain experience in global shale gas exploration worldwide. “We want to find out what makes sense for us,” says Gary. “We are definitely big supporters of shale gas production. Whether we are just advocates or are directly involved in exploration and production, or opting for some kind of compromise model, depends on how the benefits and risks of our options are assessed. Ultimately, it also depends on how INEOS Capital assesses these benefits and risks, and how they intend to use the company's resources. ”If the UK actually succeeds in harnessing its vast shale gas resources, this could have a domino effect across Europe, according to Gary cause. “We can't be sure, of course, but we firmly believe that the positive development in one European country will have an impact on the rest of Europe,” he adds. “People are looking for safe, competitive and environmentally sound energy options and we believe in that as soon as all the facts about shale gas production are known, we can count on your support. "