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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.

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