EnergyWatch

BP will sell North Sea pipeline to Ineos

A deal for a critical North Sea oil pipeline has now been secured. Ineos will take over the pipeline system Forties, which can transport more than half a million barrels per day.

Photo: GERALD HERBERT/AP/POLFOTO

BP has entered a deal for the North Sea pipeline system Forties. The buyer, Swedish chemical company Ineos, will pay USD 250 million.

Half will be paid upfront while the remaining USD 125 million will be paid over the next seven years.

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

Price cap on gas in Europe is a complex issue and potentially very costly

European lawmakers demand action to rein in gas prices, and the EU Commission has drafted a plan. However, gas prices constitute tricky puzzle: No matter how it’s approached, Europe faces an energy shortage in the next six months. The only way to help consumers is through aid, but this is a potentially costly and dangerous path, says analyst.

Further reading

Related articles

Latest News

See all jobs