Ineos oil CEO for Denmark: Oil price does not affect our investments

High oil prices have no influence on future investments at Ineos, explains the CEO of newly established Ineos Oil & Gas Denmark. Instead, he foresees a future where the oil price will neither be high nor low as rapid shale production will keep the price in check.

Photo: /ritzau/Magnus Holm/

When it comes to future investments, the new CEO of Ineos Oil & Gas Denmark, Flemming Horn Nielsen, rejects that the recent leap in the oil price has any impact.

He notes that the development of an oil field can easily take five to seven or eight years, and that the field concerned would then produce for perhaps 20 years. As such, there is a timeframe for the field which is typically more than 20 years, and the oil price at this moment is not that significant.

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