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Britain’s Greatest Oil Pipeline Shut ‘for Weeks’ For Repairs

LONDON (Reuters) – Britain’s largest oil pipeline could shut down new energy husum 2013 aussteller for weeks for unscheduled repair work, sending the price of crude to new two-year highs and triggering a steep rally in natural gasoline prices, simply as a chilly snap sweeps the nation.

The Forties Pipeline System, which carries round 450,000 barrels per day of Forties crude from the North Sea to the Kinneil processing terminal new energy husum 2013 aussteller in Scotland, had been operating at reduced capability since December 7 when a routine inspection revealed a small leak.

Ineos, a privately owned Anglo-Swiss chemicals firm, owns the pipeline and stated it had taken the choice to close the system completely.

Oil traders estimated this was the primary complete closure since 2011, when then-operator BP (BP.L) shut it down while a suspected World War II bomb was removed from the seabed.

“It’s early days and it’s premature to offer a time-frame for the repair Bina petroleum refinery products work. We will not give a precise estimate aside from to say it’s a matter of weeks, reasonably than days,” an Ineos spokesman stated.