UPDATE 3-Britain's biggest oil pipeline shut for second time in two months [Reuters]
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 3-Britain's biggest oil pipeline shut for second time in two months | Reuters Reuters Staff 3 Min Read * Ineos says plans to restart pipeline overnight * System previously shutdown in mid-December * Oil and gas prices jumped after latest closure (Updates with planned restart, price reaction, context) By Ron Bousso, Libby George and Julia Payne LONDON, Feb 7 (Reuters) - Britain’s biggest and most important oil and gas pipeline Forties was shut for a second time in two months on Wednesday, raising concerns about the reliability of infrastructure behind the world’s top oil benchmark. Pipeline operator Ineos said it aimed to restart the pipeline overnight. The pipeline, which pumps about 450,000 barrels per day of oil, was previously shut in mid-December for about three weeks when a crack was discovered. As a result, Ineos declared force majeure on exports, citing problems beyond the firm’s control, and the outage pushed up global oil prices. Ineos said in a note to customers on We
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