Oil, Gas Firms Could Lose Millions Due to Forties Pipeline Shutdown

Oil and gas firms could lose millions of dollars in the event of a prolonged shut down of the Forties Pipeline System, oil and gas analysts at GMP FirstEnergy have confirmed. Independent oil and gas firms EnQuest plc and Premier Oil plc could lose millions of dollars in the event of a prolonged shut down of the Forties Pipeline System, oil and gas analysts at GMP FirstEnergy have confirmed. The analysts highlighted that EnQuest’s operated Greater Kittiwake Area and Scolty/Crathes development, along with Premier Oil’s operated Balmoral area, non-operated Elgin-Franklin asset and other minor fields, would be impacted as a result of a shut down of Britain’s largest oil pipeline. GMP analysts have stated that every month of shut down would reduce the energy investment banking firm’s expected cashflow forecast for EnQuest and Premier Oil by around $7 million and between $10-12 million, respectively. The shut down of the […]

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