gg2
Ratcliffe says he lost confidence in UK
The gist
Sir Jim Ratcliffe told the BBC he has lost confidence in the UK.
His exit spotlights billionaire departures and a pending North Sea oil decision.
How it unfolded
- Sep 18, 2026Sir Jim Ratcliffe tells the BBC he has lost confidence in the UK, describing the country as "on the slide" and in decline due to high taxes and high immigration.
- Sep 18, 2026Ratcliffe says failing to invest further in North Sea oil and gas is "insanity" and warns the UK could "run out of gas" in a sharp cold spell this winter.
- Sep 18, 2026He criticises government hesitation on the Rosebank and Jackdaw fields and says high taxes on North Sea operators threaten the sector's viability.