December 25, 2017 / 9:56 AM / a month ago

Ineos says Forties oil flows to rise gradually, partly restarts Kinneil plant

LONDON (Reuters) - Oil and gas flows through Britain’s Forties oil and gas pipeline, one of the biggest in the North Sea, will be increased gradually, its operator Ineos said on Tuesday, adding that the Kinneil processing plant was partially restarted.

The closure of the pipeline since Dec. 11 has pushed oil prices above $65 (£48.65) a barrel in recent weeks, their highest level since mid-2015.

“Ineos continues to make good progress towards the restart of the Forties Pipeline System,” the company said in a statement.

“Ineos has partially restarted the Kinneil facility. Flows through the pipeline and Kinneil will be increased gradually as we prove the system.” 

The company reiterated that it expected to bring the pipeline and Kinneil progressively back to normal rates early in the new year.

Reporting by Alex Lawler; Editig by Andrew Heavens

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