INEOS 2022 Review: Entering a new phase of growth
This past year has been about resilience during the current downturn as well as geographic expansion, particularly in China.
What we saw in 2022 was the classic football analogy of a game of two halves. The first half of last year was a continuation of the boom times of 2021 but from August we saw performance levels you’d expect to see in a significant petrochemical cyclical downturn.
We always use three words to describe our core values: grit, rigour and humour. They’re the qualities that get us through situations like these and have made us very resilient and robust. With INEOS celebrating its 25th anniversary on 5 May 2023, it is this mindset that has allowed the business to not only navigate difficult conditions in the past but to emerge stronger through INEOS is now entering a new phase of expansion and growth innovation, new partnerships and groundbreaking projects.
Indeed, INEOS made the headlines last year when it announced four major deals with Chinese major SINOPEC This included an historic agreement to acquire half its SECCO cracker plus a host of downstream investments from polyethylene to acrylonitrile butadiene styrene.
After 25 years of growth and expansion, INEOS has established itself as one of the world’s leading chemical companies. And there are no signs of its progress slowing as it looks to build its presence in Europe and the US, increase its footprint in Asia while continuing on the path to net zero.
