• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 min Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours What-If - Russia decided to take out the Saudi and Kuwait oilfields
  • 22 hours "As the Earth Cools, the Climate Change Hoax Heats Up" by Michelle Edwards
  • 22 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 19 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 19 hours The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 1 day PROFOUND ! "Russian Ruble relaunched linked to Gold and Commodities" by the famous Ronan Manly -- (NOTE the censorship by the MultiPolar New World Order of The Great Reset))
  • 3 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
It’s Time For An Oil And Gas Boom In Africa

It’s Time For An Oil And Gas Boom In Africa

While many countries, including the…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Britain’s Most Important Oil Pipeline Down Again

The Forties pipeline had to be shut down for the second time in two months on Wednesday, leaving buyers worried about the infrastructure behind Britain’s oldest and most important oil route, according to a new report by Reuters.

Operator Ineos said the facility should begin transporting fuels at its normal rate of 450,000 barrels per day overnight. The company acquired the Forties network from British Petroleum two months ago for  $125 million.

Last December, a crack caused Forties to shut down for three weeks, prompting Ineos to call a force majeure on its export contracts. Oil prices shot up after the announcement. The January crude loading program was changed with 13 cargoes deferred from December to January as a result, and another 12 cargoes were deferred from January to February.

This time around, a set of values supplying the Kinneil plant closed without warning, cutting off some of the pipeline’s usual customers.

“When these valves close, then this requires FPS (Forties Pipeline System) to shut down the pipeline system and its customers in the North Sea,” it said.

Royal Dutch Shell and Total had to stop production and exports at two fields due to the shutdown this week.

Related:  The World’s Biggest Oil Benchmark Could Change Forever

Forties pipeline is a key transit route for North Sea oil and the Forties crude blend is the largest component of the Brent-Forties-Oseberg-Ekofisk-Troll (BFOE) complex, which is the basis for the Brent futures contract. The Forties pipeline carries some 40-45 percent of the UK’s liquids production and more than 80 fields feed into the pipeline.

The UK’s energy industry body Oil and Gas UK has estimated that the shutdown had cost $26.85 million in lost production daily. The ordeal was thought to remove between 5.5 million and 13 million barrels of oil from the market by the time the pipeline was restarted, according to Bloomberg.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News