• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 2 hours Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 hour EU has already lost the Trump vs. EU Trade War
  • 16 hours Tesla Launches Faster Third Generation Supercharger
  • 5 hours Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 1 hour China's Renewables Boom Hits the Wall
  • 6 hours ''Err ... but Trump ...?'' #wall
  • 6 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 5 hours Crazy Stories From Round The World
  • 1 day Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 16 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
OPEC Is Desperate For A Trade War Resolution

OPEC Is Desperate For A Trade War Resolution

OPEC’s Secretary General is desperate…

Lightning Strike Disrupts Key Oil Pipeline

Lightning Strike

The main UK North Sea crude oil transport route, the Forties pipeline, was shut down in the early hours on Friday after a lightning strike caused a power surge, the operator of the Forties Pipeline System (FPS), Ineos, said.

A lightning strike in the Cruden Bay area caused the power surge, which resulted in a loss of power to Cruden Bay. Following standard safety precautions, the Forties pipeline was fully shut down, the operator said.

Thunderstorms in northeast Scotland were the reasons for the lightning in the Cruden Bay area.

“We are now in recovery mode and working through our safe system start-up procedures and aims to restart by lunch today,” Ineos said in a statement on Friday.

The Forties pipeline is a key transit route for North Sea oil, and the Forties crude blend is the key component of the Brent-Forties-Oseberg-Ekofisk-Troll (BFOE) complex, which is the basis for the Brent Crude futures contract. The Forties pipeline typically carries around 450,000 bpd, but can transport up to 600,000 bpd of North Sea oil onshore for refining. The pipeline carries around 40 percent of the UK’s oil and gas to the mainland.

Related: Don’t Expect Oil Prices To Go Much Higher This Year

The shutdown of the Forties Pipeline comes as Buzzard, the largest producing oil field in the UK North Sea with a capacity of 150,000 bpd, has been completely shut down since Wednesday morning for repair works, the operator of the field Nexen said on Thursday, as carried by Reuters.

The Buzzard field off the coast of Scotland is the second-largest North Sea oil field in terms of current production after Troll in Norway, according to Rystad Energy.

Buzzard is the largest producing oil field in the UK Continental Shelf (UKCS) and contributes some 30 percent to the Forties Blend, one of the five crude streams underpinning the Dated Brent benchmark together with Brent, Oseberg, Ekofisk, and Troll. Around two-thirds of the world’s physical crude oil market is priced using Dated Brent. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play