EnergyWatch

BP confirms talks to sell key North Sea oil pipeline to Ineos

The two companies are in talks about a potential sale of a key piece of North Sea oil infrastructure, which transports up to 450,000 barrels a day.

Photo: CARSTEN INGEMANN

BP Plc is in talks with Ineos AG to sell the Forties pipeline, one of the most important pieces of oil infrastructure in the U.K. North Sea.

The two companies confirmed the discussions, but declined to comment on the potential value of the deal or provide a time frame. The pipeline system transports 450,000 barrels a day, comprising about 40 percent of the U.K.’s total oil production and the largest constituent of Dated Brent, the international crude benchmark.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas awaits clarity on major US green energy funding

After a second quarter that, to put it mildly, was disappointing on order intake, the Danish wind turbine manufacturer intends to maintain its price strategy. Major green energy funding from the US spells promise, but Vestas is waiting for final clarity.

Media: Russia blocks Western utilities' asset sales

According to Russian media Kommersant, the country’s authorities have frozen divestments of, among others, Enel and Fortum’s power plants and wind farms. The Finnish utility is analyzing the situation, however without confirming implication.

Further reading

Related articles

Latest News

See all jobs