EnergyWatch

Ineos: Of course our finances are strained

Ineos E&P Denmark continually focuses on reviewing costs as the oil crisis develops, says CEO Sebastian Koks Andreassen. He remains confident in the plan for the long-awaited Hejre discovery.

Ineos is currently reviewing its options within the heavily problematic market conditions, says Sebastian Koks Andreassen, CEO of Ineos E&P Denmark. | Photo: Foto: Bjørn Bertheussen, BB Photography

The chief executive of the Danish oil business of chemical giant Ineos is plenty busy these days. The coronavirus' ravaging hasn't made Sebastian Koks Andreassen dial things down. On the contrary.

As if the all-encompassing pandemic wasn't enough, oil companies right now struggle with the lowest oil price seen since 2002. This is due to the virus, but also to the fact that the biggest oil nations haven't been able to agree on handling the decreasing demand.

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