8 May 2024
Ineos’ delay to Forties pipeline closure ‘unlikely to weigh on oil prices’ – expert
Publication date: 26 March 2020
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Ineos has delayed its scheduled June shutdown of the forties pipeline system (FPS) until August “at the earliest” in the face of disruption caused by the Covid-19 outbreak. While some commentators claimed this could add to the growing pool of surplus crude oil in the market and weigh further on crude prices, the quantities running through the North Sea pipeline network are too small to move the needle globally and would ...