The Return Of Oil’s Most Important Pipeline

Energy independent Ineos, the operator of the Forties pipeline, said it has started doing pressure tests on the pipeline after it was repaired. Full flow will resume in early January, the company said. “A small number of customers are now sending oil and gas through the pipeline at low rates as part of a coordinated plan that allows Ineos to carefully control the flow and pressure in the system,” the company said. Ineos, which acquired the Forties network from BP two months ago for US$125 million , shut the pipeline down after discovering hairline cracks on parts of it in early December. Initially, the company jittered markets by saying the repairs might take anywhere between two and four weeks but it later revised its forecast. Initially, the company said last week, the pipeline wouldn’t operate at full capacity, it would instead only ship small amounts of oil and gas, […]

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