🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UK Forties oil pipeline cuts flow after leak, Kinneil issue

Published 07/12/2017, 17:10
Updated 07/12/2017, 17:20
© Reuters.  UK Forties oil pipeline cuts flow after leak, Kinneil issue
LCO
-

LONDON (Reuters) - Oil flow along the UK's Forties oil pipeline which carries the crude that usually sets the global Brent benchmark has been reduced after a leak was detected and by a separate issue at its Kinneil plant, pipeline operator Ineos said.

The size of the flow reduction was not immediately clear. A trade source said, however, that it was not large and loadings of Forties crude had not been affected.

"The operational pressure of the pipeline had been marginally reduced. However, rates were reduced mainly because of the issue at Kinneil, which is now restarting," Richard Longden of Ineos said via email.

Ineos said in a statement earlier on Thursday it was repairing the pipeline and that its Kinneil plant was flaring gas as a result of being re-started.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.