Forties Pipeline to be Shut Down Weeks

December 12, 2017 Share Print 0

One of the UK’s most important oil pipelines is still expected to be shut down for “weeks rather than days”, as first images of the repair site were released.

The Forties pipeline carries crude North Sea oil across land for processing at Grangemouth.

The crack was discovered last week at near Netherley in Aberdeenshire and a 300m safety cordon is in place.

Pipeline owner Ineos apologised to “our customers and communities”.

The Forties pipeline carries about 40% of North Sea crude oil.

Speaking in the Scottish Parliament, Lib Dem MSP Mike Rumbles said people in Aberdeenshire were worried about the risk of further “undetected” cracks in the Forties pipeline.

Energy Minister Paul Wheelhouse said the Scottish government would be “seeking information from Ineos” in order to reassure people.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.