LONDON, Dec 27 (Reuters) - Britain's biggest and most important oil pipeline, Forties, was ramping up throughput after repairs and was currently pumping at around half its normal rates, a trading source familiar with the operations said on Wednesday. Forties normally pumps about 450,000 barrels per day. The pipeline's operator Ineos restarted the pipeline earlier in the … [Read more...]
North Sea Pipeline Crack Stress Tests World’s Most Important Oil Benchmark
By Laura Hurst (Bloomberg) -- When a vital North Sea oil pipeline cracked earlier this month, it did more than halt the flow of barrels: it stress tested the world’s most important physical crude-price benchmark for producers, traders and consumers. The 40-year old Forties Pipeline System was shut down on Dec. 11 after a hairline crack was discovered near Aberdeen, … [Read more...]