UPDATE 2-Britain's Forties oil pipeline unexpectedly shut [Reuters (UK)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
UPDATE 2-Britain's Forties oil pipeline unexpectedly shut | Reuters Reuters Staff 2 Min Read (Adds Shell shutdown of Shearwater) LONDON, Feb 7 (Reuters) - Britain’s Forties oil pipeline was shut on Wednesday after the unexpected closure of a feed control valve connecting to the Kinneil gas plant, traders said, just over a month after restarting following a major outage. A spokesman for Ineos, the pipeline operator, did not immediately respond to a request for comment. The pipeline, which pumps about 450,000 barrels per day, was previously shut in mid-December for about three weeks after the discovery of a crack. Ineos had to declare force majeure on exports and the outage pushed up global oil prices. In a note to customers, Ineos said that “when these valves close, then this requires FPS (Forties Pipeline System) to shut down the pipeline system”. It said the operator had mobilised a team to investigate the cause of the valve closure and was therefore not yet able to give a timeline f
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